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Aerospace Trust Management as your corporate trustee. FAA aircraft owner trusts allow both U. Aerospace Trust Management assists customers and their legal counsel with forming aircraft owner trusts and provides trustee services to ensure their compliance with the FAA. Headquartered in Delaware, a state widely recognized for its tax and trust laws and sophisticated court system, Aerospace Trust Management is a licensed trust company with experience working with the laws and regulations governing legal aircraft title and registration requirements. Owner Trusts to facilitate N-registration whether the beneficiary of the trust is a US citizen or not. The importance and legitimacy of the Owner Trust structure to the US aircraft market is well recognized and has been used for many decades.
The cost of putting an aircraft into trust varies between 700-800 euros, depending on document shipments. This includes the annual trust fee for the first year. Pricing of the annual inspections depends on the aircraft model, and scope of work, so please contact us for a quote. The labour cost is 50 euros per hour, inclusive of VAT. Chart Wise: Quiz Time Here are a few penetrating questions to test your knowledge.
When it comes to managing a trust for the benefit of you or your loved ones, removing a trustee is sometimes the only way to deal with problems that may arise. This can be especially important when trusts are used to provide for relatives and dependents both in life and after death. Failure to Comply With Trust Terms. A trustee is a person who is endowed with the legal ownership and management of trust assets, which are held for the benefit of the beneficiaries. With this grant of power comes the obligation for the trustee to act in the best interest of the beneficiaries and fulfill the terms of the trust. If the trustee ignores or fails to abide by those trust terms, the beneficiaries can petition the court to remove him or her. The trustee has a fiduciary duty to manage the trust assets in such a way that does not waste or devalue a trust’s funds.