Examples of Individual trust account in a sentence
The Account Founder acknowledges and agrees that entities representing the Trustee may recover their reasonable costs and expenses associated with locating such beneficiaries from the Individual Trust Account prior to disbursement pursuant to the provisions above.
The Trustee is authorized to charge any and all fees set forth on Schedule A to the Beneficiary’s Individual Trust Account.
The Trustee’s Fee Schedule may be amended from time to time, from the Individual Trust Account.
The Account Founder may choose to have some or all of the funds remaining in the Beneficiary’s Individual Trust Account be retained by the Trustee and held in the BIAWA Pooled Third Party Special Needs Trust for the benefit of other beneficiaries.
When the Beneficiary dies and if anything remains in the Individual Trust Account after the optional percentages chosen above to be retained by the Trustee for the benefit of other XXXXX Xxxxxx Third Party Special Needs Trust beneficiaries or to be given to the BIAWA general operating account as a charitable donation, the Trust provides that the Account Founder may direct how the funds are to be distributed.
Beneficiary: A person for whom an Individual Trust Account is established under the XXXXX Xxxxxx Third Party Special Needs Trust.
Neither the Beneficiary, the Account Founder, nor any Donor has a right to terminate or revoke an Individual Trust Account in the BIAWA Pooled Third Party Special Needs Trust during the Beneficiary’s lifetime.
A third party, including the Account Founder, who is not a Beneficiary, and who contributes his, her, or its own assets to an Individual Trust Account, whether such contribution is by gift, will, beneficiary designation, contract, or agreement.
If no remainder beneficiary named in this Joinder Agreement survives the Beneficiary or can be identified with reasonable efforts within a reasonable period of time following the death of the Beneficiary, then all of the funds remaining in the Beneficiary’s Individual Trust Account will pass as a charitable donation to the BIAWA.
Account Founder: The individual or entity that executes the Joinder Agreement for the purposes of establishing an Individual Trust Account for a Beneficiary and provides the funds for the initial funding of the Individual Trust Account.