Nominee Trust

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Nominee Trust

Definition

Typically used to hold title to real estate for tax advantages, this is a trust wherein the trustee holds legal title for the beneficiaries, but the beneficiaries have controlling powers over the trust assets and the trustee largely acts at the beneficiaries’ directive. A nominee trust is not a traditional trust because the trustee effectively acts like the beneficiaries’ agent.

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— Janien v. Janien

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