Common Contracts
1 similar Nonjudicial Settlement Agreement contracts
Nonjudicial Settlement AgreementsNonjudicial Settlement Agreement • March 27th, 2017
Suppose your client, Ben, created an irrevocable trust for his sons, Adam, Hoss, and Little Joe. Ben died last year, and the trust now owns an interest in Ben’s cattle ranch in Nevada. The current trustee, Sheriff Roy, has been satisfactorily handling the marketable securities owned by the trust but is concerned about his ability to manage the interest in the ranch. The beneficiaries and Roy would like to add Candy as a new co-trustee with specific powers to manage this one asset because of Candy’s extensive experi- ence as the former ranch foreman. The trust is silent on the appointment of co-trustees or a special trustee to manage an active business.
