Indicator Information Institute Applications and Instructions
Personal Property Contract Trust
INSTRUCTIONS FOR COMPLETING APPLICATION
This is a Personal Property Contract Trust (UPDATED)
1. If you are ordering more than one Personal Property Contract Trust to use, you will find the Second and or Third Trust fields for the Name, etc. towards the bottom of this Application. Only fill those out IF you are ordering more than one Personal Property Contract Trust at this time.
2. Complete Your Name, Your Address etc. as usual.
3. 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.
4. 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.
5. You are the Exchanger(s).
6. You must List what you are exchanging into the Trust.
7. The Creator appoints you as First Trustee.
8. You appoint a second Trustee, if applicable.
9. You must name at least ONE Successor Trustee
The cost of a Standard Contract Trust is $1,695.00.