Indicator Information Institute Applications and Instructions
Automobile or Equipment Trust
INSTRUCTIONS FOR COMPLETING APPLICATION
1. Complete Your Name, Your Address etc. as usual.
2. Name the Trust. Anything that sounds good to you is OK. Try for a strong sounding name. DO NOT use your surname or sequential numbering, e.g. My Trust #1, My Trust #2, etc. That would indicate there is more than one.
3. Name the Creator; a third party is necessary for the Creation of the Trust and Appointment of the First Trustee. This person has no further obligation, liability or authority in the Trust. NOTE: All parties that will be signing the Trust NEED to be available when the documents are Notarized. Best practice is to have all parties live in the same area.
4. You are the Investor(s).
5. You must List what you are exchanging into the Trust.
6. The Creator appoints you as First Trustee.
7. You appoint a second Trustee, if applicable.
8. You must name at least ONE Successor Trustee
The cost of a Vehicle, Vessel or Equipment Trust is $1,995.00 EACH for the first 4 Trusts, then $1,695.00 each Trusts, thereafter.