a grantor trust do they need to have separate books for their trust assets and their personal assets?
Asked on 3/24/21, 1:05 pm
1 Answer from Attorneys
Richard Bryan
Richard Bryan Attorney PC
Yes. A trust is a legal organization separate and distinct from its grantors or creators. If the grantor does not respect this legal distinction by maintaining books and records for the trust, then the law will similarly not recognize the trust as an independent legal entity.
Good luck.
Answered on 3/25/21, 8:48 am
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