Definition of "Standby trusts"

Preston  Murphy & Diane Harmon real estate agent
Preston Murphy & Diane Harmon, Real Estate Agent Keller Williams Realty

Trusts in which individuals manage their own assets and only if a predetermined event occurs, such as incapacity, will another party take over the management of these assets. Upon recovering from the incapacity, the individual may resume the management of the assets.

 

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