What is a Trustee? The term is meant to imply that a client or clients who are the majority shareholders or majority member certificate holders, have nominated Inc Legal Services to appoint a Trustee and oversee that the Trustee completes their responsibilities. At ILS we are proud to offer Professional Trustee Services. It is important to understand that Trustee(s) have a responsibility to the shareholders/certificate holders that all legal responsibilities of the managers of the business have been reported annually and that their responsibilities according to the By-Laws/Operating Agreement have been satisfied.

Why should owners(s)/certificate holder(s) appoint Trustee(s), especially when owner(s)/certificate holder(s) might be part of the management team? Simply put, in the event of lawsuits against an entity it is common that when a manager also appears as a Director, the manager could also be named in the lawsuit. In Nevada Shareholders/Certificate holders are held privately, however, Trustee(s) are public on the internet. The key to asset protection is privacy. These services provide the ultimate form of continuance of the American constitutional principal, that of a citizens right for privacy!

ILS provides Trustee services for their clients per the following terms:

1. Office Identity and Resident Agent services must be provided by Inc Legal Services

2. The Annual fee is $250.00

3. Additional fees for Trustee Activities, are $35 for the signing and forwarding of a group of documents required to be signed by the shareholders. The Director/Manager fee for all other services required by the shareholders is $65 per hour. Legal review is $125 per hour.

4. The company Owner(s) are required to provide the Trustee with an annual report to include the company has performed all functions legally per the By-Laws/Operating Agreement, and that all taxes have been paid and a copy of the first page of the Trust tax returns will be presented in advance of presentation to IRS.

TRUSTEE CONTRACT

SCHEDULE A
(Successors & Assigns)

 

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