59 Sentences With "power of appointment" | Random Sentence Generator

With his power of appointment, he has the power to make American inventions great again.

His answer to that worry is that his power of appointment will last only 12 months.

Although commentators and academics are divided, the majority of experts argue that President Trump cannot himself remove Mueller from the special counsel role because the statutory power to appoint a special counsel resides with the attorney general, and well-established federal law holds that the power of removal goes along with the power of appointment.

For example, a testator might grant his brother the special power to distribute property among the testator's three children. The brother would then have the authority to choose which of the testator's children gets which property. Unlike a general power of appointment, the refusal of the appointed party to exercise a specific power of appointment causes the designated property to revert as a gift to the members of a group or a class. A special power of appointment may be exclusive or nonexclusive.

Example: "I leave my video game collection to be distributed as my son Andrew sees fit." A general power of appointment is defined for federal estate tax purposes in the Internal Revenue Code §2041. A general power of appointment is one which allows the holder of the power to appoint to himself, his estate, his creditors, or the creditors of his or her estate the right to have the beneficial use and enjoyment of certain property covered by the power of appointment. The holder of a general power of appointment is treated for estate tax purposes as if he or she is the owner of the property subject to the power, whether or not the power is exercised.

The testator may also delegate his or her freedom of testation to a certain extent by conferring the power of appointment upon other persons.

A person living under a system of customary law is free to make a will regarding customary property. The principles regarding power of appointment should, however, be kept in mind in such instances.

Thus, the property which is subject to the power is includable in the power holder's estate for estate tax purposes. A general power of appointment is a key element of a type of marital deduction tax law as prescribed in Internal Revenue Code §2056(b)(5). It is a trust that qualifies for the marital deduction, provided that the surviving spouse is given the income at least annually and the surviving spouse has a general power of appointment over the trust property remaining at his death. Most general powers of appointment are exercisable under a will.

The will is interpreted in respect of the testator's property immediately before his death (s.24). Where the testator makes a gift of all his real property, it is deemed to include property over which he has a power of appointment (s.27).

Mr. Orpen died on 23 December 1964. The legal question was whether the exercise of Mrs. Orpen's power of appointment in favour of Mr. Orpen, in terms of her father's will, was valid, and whether her spouse’s deceased estate had obtained vested rights with regard to the twenty per cent trust capital that she bequeathed to him, regardless of the fact that she died before her father. Her father was therefore still alive when her will, in which she exercised her power of appointment, came into operation. The Court held that Mr. Orpen’s estate had no right to twenty per cent of the trust capital. Mrs.

In United States trust law, a SPA Trust is an irrevocable trust that includes a special power of appointment. Unlike general powers of appointment, a special power of appointment is limited to a certain class of persons or entities that may receive the benefit of the power (appointee) from the person in whom the power is vested (donee). Generally, SPA trusts are used to hold property for asset protection purposes, because of the benefits and control a SPA trust offers over the assets protected within the trust. The purpose of a SPA Trust is to protect assets from a person's potential future liabilities by removing the assets from the person's legal ownership.

A power of appointment is a term most frequently used in the law of wills to describe the ability of the testator (the person writing the will) to select a person who will be given the authority to dispose of certain property under the will. Although any person can exercise this power at any time during their life, its use is rare outside of a will. The power is divided into two broad categories: general powers of appointment and special powers of appointment. The holder of a power of appointment differs from the trustee of a trust in that the former has no obligation to manage the property for the generation of income, but need only distribute it.

Savage, Cynthia. "Governor's Mansion," Encyclopedia of Oklahoma History and Culture (accessed May 16, 2013) As Oklahoma grew and the state government expanded, the office of the governor became gradually more powerful. As more agencies were introduced, the governor gained greater indirect influence through the power of appointment. Initially the governor was not eligible to immediately succeed himself.

The deputies are required by law to hail from a different sub-region from the Chief Minister. The Chief Minister's power of appointment is codified in regional law through Bangsamoro Act No. 11. which states that the official has powers to appoint regional government positions which have a salary grade of 25 and above unless otherwise stated by law.

After that time, the power of appointment of a single sheriff per year was vested in the crown. The sheriff also performs the duties of the returning officer in elections (other than local elections) and some other duties concerning pounds. Sheriffs may appoint court messengers, subject to the approval of the Minister for Justice, to assist them with their work.

He declined to say how long he would allow vacancies to accumulate. Under Canada's constitution, senators are appointed by the governor general on the advice of the Prime Minister. If no such advice is forthcoming, according to constitutional scholar Adam Dodek, in "extreme cases, there is no question that the Governor General would be forced to exercise such power [of appointment] without advice".

The holder of the power refers to the document creating the power in his or her will and designates who among the permissible objects of the power should receive the property. The power could be exercised by creating further trusts. If the power of appointment is not exercised, the default provision of the document that created the power takes over.

Example: "I leave my cactus collection to my children, my wife Pat to choose who receives which cactus." A special power of appointment allows the recipient to distribute the designated property among a specified group or class of people, not including donee, donee's estate, creditors of donee, or creditors of donee's estate.See, e.g., New York Estates Powers and Trusts Law § 10-3.2.

Apart from its legislative and oversight functions, the National Assembly has the power of appointment and removal. The house is given exclusive right to elect the Prime Minister of Thailand. First the candidate must receive the support of one-fifth of all members. Afterwards, a simple majority vote will confirm his appointment which will be made officially by the monarch.

The will usually, but not always, appoints the same persons as executors and as trustees. The functions of an executor and of a trustee are, however, quite separate and distinct. Further, the source of their authority is different. While the Master has the power of appointment of executors, a trustee's authority is derived from the will or some other document executed by the testator.

Family trusts are often used to distribute income to beneficiaries in an attempt to achieve the lowest tax outcomes available to the members of the trust. Discretionary trusts also protect assets when individual members become insolvent or bankrupt. Asset protection is also extended to other types of liabilities. The power of appointment of the trustee of a discretionary trust is held by the Appointor.

In United States trust law, an Ultra Trust is a registered trademark whose intellectual property is owned by Estate Street Partners LLC that describes a specific type of intentionally defective grantor-type irrevocable trust that includes an independent trustee as well as a special limited power of appointment. Unlike general powers of appointment, a special limited power of appointment within the Ultra Trust is limited to a specific person(s) who retains the benefit of the power (grantor) from the person in whom the power is vested (trustee). Generally, Ultra Trust's are used to reposition all types of assets for purposes of asset protection, as an Ultra Trust offers the ability to have an independent third party own assets previously owned by the grantor. An Ultra Trust is a legal entity with special provisions, benefits, and limitations created and drafted by an attorney who has expertise with debtor—creditor law, income tax law, gift tax law, and estate tax law, as well as trust law.

Larrow became an associate justice of the Vermont Supreme Court in 1974. He was the last state supreme court justice in Vermont to be elected by the Vermont General Assembly; an amendment to the Vermont Constitution gave the power of appointment to the governor. Larrow retired from the state supreme court in 1981, after seven years on the bench, at the age of sixty-five.New England Briefs: Vt. Judge Retiring, Boston Glove, August 31, 1981.

Alexander Hamilton, author of Federalist No. 76 Federalist No. 76, written by Alexander Hamilton, was published on April 1, 1788. The Federalist Papers are a series of eighty-five essays written to urge the ratification of the United States Constitution. These letters were written by Alexander Hamilton, James Madison, and John Jay under the name of Publius in the late 1780s. This paper discusses the arrangement of the power of appointment and the system of checks and balances.

Foliot was either elected by the cathedral chapter without guidance from the king,Warren Henry II pp. 534–535 or was nominated to the cathedral chapter by King Henry at the urging of his relative Gilbert Foliot. Robert Foliot later attended the Third Lateran Council in 1179.Barrow Fasti Ecclesiae Anglicanae 1066–1300: Volume 8: Hereford: Bishops While bishop, he became involved in a dispute with Hugh Parvus, a local baron, over the power of appointment to two churches.

The creation of the ecclesiastical hierarchy of the diocesan clergy marked a turning point in the crown's control over the religious sphere. The structure of the hierarchy was in many ways parallel to that of civil governance. The pope was the head of the Catholic Church, but the granting of the Patronato Real to the Spanish monarchy gave the king the power of appointment (patronage) of ecclesiastics. The monarch was head of the civil and religious hierarchies.

Not only this, but the system of checks and balances was also created in order to prevent unequal power amongst branches. The new structure of government was a key ideal written in the Constitution of the United States, signed on September 17, 1787 by delegates of the Continental Congress. In regards to Federalist Paper 76, the essay discusses the arrangement of the power of appointment and the distribution of power. Hamilton wrote Federalist 76 in support of the proposals from the Constitutional Convention.

Vice President Valentín Gómez Farías, who enacted significant reforms restricting the Catholic Church The Spanish monarchy had the full power to appoint clerics in its overseas possessions through the papal grant of the Patronato Real. When Mexico obtained its independence, Roman Catholicism continued to be the only permissible faith. However, the question of the power of appointment of clerics was highly contested. The Mexican government asserted that the right passed to the new national government, in what was termed the Patronato nacional.

A trust may be created by: (1) transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death; (2) declaration by the owner of property that the owner holds identifiable property as trustee; or (3) exercise of a power of appointment in favor of a trustee.UTC Section 401. The ancient rule from English common law is that a trust is not established until it has property or a res.Id., comment, p. 50.

Appointments of judges and Judicial Commissioners (JCs) of the Supreme Court are made by the President, when, in his discretion, he concurs with the Prime Minister's advice on the matter.Constitution, Art. 95(1). The Prime Minister thus possesses the primary power of appointment of judges of the Supreme Court.. Although the Prime Minister must consult the Chief Justice when advising the President to appoint judges and JCs,Constitution, Art. 95(2). and the President is empowered to veto judicial appointments,Constitution, Art. 22(1)(a).

When Adams took office in 1797, he carried many of outgoing President George Washington's supporters over into his new administration. As a result, there was little change in the federal government during the transition between Washington and Adams, the first presidential transition in U.S. history. With Jefferson's election in 1800, there was a transfer of power between parties, not simply a transition between presidents. As president, Jefferson had the power of appointment to fill many government positions that had long been held by Federalists.

The will also stipulated that if the daughter should, upon death, have no children, twenty per cent of the trust capital (corpus) would go to such person as the daughter might designate in her will. She therefore obtained a power of appointment in her parents’ will with regard to twenty per cent of the corpus of the trust. The destination of the other eighty per cent was arranged for in the parents' will. On 5 March 1963, while her father was still alive, the daughter (Mrs.

Originally the Provost was appointed for life. While the Provost was elected by the Fellows at the start, the appointment soon became a Crown one, reflecting the growing importance of the college and of the office of provost, which became both prestigious and well paid. However, as time passed it became customary that the appointments were only made after taking soundings of college opinion, which meant mostly the views of the Board. With the establishment of the Free State in 1922, the power of appointment passed to the Government.

Under Nicolae Ceauşescu in Romania, weather reports were doctored so that the temperatures were not seen to rise above or fall below the levels which dictated that work must stop. In each country, leading bodies of the ruling Communist Part exercised hierarchical control of the censorship system. Each Communist Party maintained a department of its Central Committee apparatus to supervise media. Censors employed auxiliary tools such as: the power to launch or close down any newspaper, radio or television station, licensing of journalists through unions and the power of appointment.

In late February, Prime Minister Harper nominated Marshall Rothstein from a shortlist prepared by the previous Liberal administration. MPs were permitted to ask questions of Rothstein, although the ultimate power of appointment continued to rest with the prime minister.Terry Weber, "Rothstein tapped as Supreme Court nominee", Globe and Mail, February 23, 2006 (Breaking News). Rothstein was supported by Liberal members of the judicial committee, and was quickly confirmed to the bench. In November 2006, Toews announced that police representatives would be appointed to the provincial judicial advisory committees that review the qualifications of potential judges.

Justinian's successors continued this practice for over a century. The continuing power of appointment of the Byzantine Emperor can be seen in the legend of Pope Gregory I writing to Constantinople to ask them to refuse his election. Pope Boniface III issued a decree denouncing bribery in papal elections and forbidding discussion of candidates for three days after the funeral of the deceased Pope; thereafter, Boniface III decreed that the clergy and the "sons of the Church", i.e. nobles, should meet to elect a successor, each voting according to their conscience.

Publius begins this essay by quoting the Appointments Clause of the proposed United States Constitution. Publius then states that "it is not easy to conceive a plan better calculated than this" and explains why he believes that is so. He explains that the power of appointment can only be modified in one of three ways: vested in a single man, in a "select assembly of a moderate number," or in a single man with concurrence by an assembly. First, he explains that such power vested in a single man would make him sway to personal inclinations and attachments.

In some trust deeds, the person holding the power of appointment of the trustee is called the Custodian or the Principal of the trust. The Appointor is usually a natural person but can also be a company. Generally, upon the death of the Appointor, in the absence of an alternate appointment in the trust deed, the personal legal representative (executor) of the Appointor becomes the Appointor. The real power in relation to the control of the trust rests with the Appointor because of the ability to terminate the appointment of the trustee and appoint a different trustee.

Such measures frustrated the gazis which the Ottomans relied upon to sustain their military conquests, and created lasting tensions within the state. It was also during the reign of Murad I that the office of military judge (Kazasker) was created, indicating an increasing level of social stratification between the emerging military-administrative class (askeri) and the rest of society. Murad I also instituted the practice of appointing particular frontier warriors as "Lords of the Frontier" (uc begleri). Such power of appointment indicated that the Ottoman rulers were no longer merely primus inter pares but sat at the top of a hierarchy of leadership.

In the position of chief peace officer, the governor commands state and local law enforcement agencies. In the event that law enforcement entities cannot execute the law, the governor, acting as Commander-in-Chief of Oklahoma's state militia, may call out the Oklahoma National Guard to "execute the laws, protect the public health, suppress insurrection, and repel invasion." The governor is assisted in managing the military of Oklahoma by the Adjutant General of Oklahoma, who he or she appoints to office. The governor has the power to commission officers not otherwise commissioned by the law of Oklahoma and has the power of appointment.

As president, Carter actively sought to burnish his standing among women's rights groups by using the power of appointment provided by his office. By the end of his term, Carter had appointed forty-one of the forty-six women serving as federal judges and three of the six women ever to have served as full Cabinet members. One of these Cabinet members was Shirley Hufstedler, who in 1979 resigned her seat on Court of Appeals for the Ninth Circuit to serve as head of the newly created Department of Education.Federal Judicial Center page on Shirley Ann Mount Hufstedler , fjc.gov.

The Nova Scotia Legislature codified the procedure of appointment in 1872, by specifying that they would be made by the Lieutenant-Governor under the Great Seal of the Province. This was revised in 1900 to specify that the power of appointment rested with the Lieutenant-Governor in Council. Until 1882, the Executive Council normally included one Minister with portfolio and one Minister without portfolio from the Council. During the administration of William Thomas Pipes, the practice was altered so that only the Government Leader in the Council would be appointed as a Minister without portfolio in the future.

The case deals primarily with the Appointments Clause in re Executive Power, found in Article II of the U.S. Constitution. The US President of the United States has the power to appoint and remove officers in executive agencies of the US government. Removal of officers by the President if most commonly "for cause" to ensure officers can transition from one presidency to another, with fewer cabinet, agency, and other official replacements occurring every four years (the length of one Presidential term). Under the traditional default rule, removal of a federal officer is incident to the power of appointment.

Although the Bank of England is responsible for setting interest rates, the chancellor also plays an important part in the monetary policy structure. He sets the inflation target which the Bank must set interest rates to meet. Under the Bank of England Act 1998 the chancellor has the power of appointment of four out of nine members of the Bank's Monetary Policy Committee – the so-called 'external' members. He also has a high level of influence over the appointment of the Bank's Governor and Deputy Governors, and has the right of consultation over the appointment of the two remaining MPC members from within the Bank.

The United States attorney general (AG) is the head of the United States Department of Justice, the chief lawyer of the federal government of the United States, and a member of the Cabinet of the United States. Under the Appointments Clause of the United States Constitution, the officeholder is nominated through the power of appointment by the president of the United States, then appointed with the advice and consent of the United States Senate. The attorney general is supported by the Office of the Attorney General, which includes executive staff and several deputies. The 85th and current United States attorney general is William Barr, appointed by Donald Trump.

The Constitution preserves the notion that the country is a federation of semi- sovereign federal subjects and that powers not specifically granted to the federal government are retained by the federal subjects. Federal subjects, therefore, are not administrative divisions. Regional governments in Russia are relatively powerful; each federal subject has its own independent criminal and civil law codes, as well as manages its internal government. The governor thus heads the executive branch in the federal subjects and, depending on the individual jurisdiction, may have considerable control over government budgeting, the power of appointment of many officials (including many judges), and a considerable role in legislation.

Though there had been strong words and disagreements, contrary to the Federalists fears, there was no war and no ending of one government system to let in a new one. Jefferson pursued a patronage policy designed to let the Federalists disappear through attrition. Federalists such as John Quincy Adams and Rufus King were rewarded with senior diplomatic posts, and there was no punishment of the opposition.Susan Dunn, Jefferson's second revolution: The Election Crisis of 1800 and the Triumph of Republicanism (2004) As president, Jefferson had the power of appointment to fill many government positions that had long been held by Federalists, and he replaced most of the top-level Federalist officials.

Louis XII on a coin of 1514 Although he came late (and unexpectedly) to power, Louis acted with vigour, reforming the French legal system,Frederic J. Baumgartner, Louis XII, pp. 88–90. reducing taxes, and improving the government much like his contemporary Henry VII did in England. To meet his budget after having reduced taxes, Louis XII reduced the pensions for the nobility and for foreign princes. In religious policy, Louis XII reinstituted the Pragmatic Sanction, which established the Roman Catholic Church in France as a "Gallic Church" with most of the power of appointment in the hands of the king or other French officials.

The generic term "beneficiary" under the Uniform Trust Code is defined as a person that (A) has a present or future beneficial interest in a trust, vested or contingent; or (B) in a capacity other than that of trustee, holds a power of appointment over trust property.UTC Section 103(3). Beneficiaries are the holders of "equitable title" of trust assets and receive the benefits of trust property, subject to the trustee's "legal title" ownership and control under the terms of the trust agreement as established by the grantor. The Code makes a distinction between certain classes of beneficiaries with respect to the traditional reporting requirements for trustees with respect to the assets and transactions actually held in the trust.

The first official guide was appointed by the Duchy of Lancaster on 29 January 1548, a Thomas Hogeson. A charity to control the guides was established in 1877, with the power of appointment still held by the Duchy of Lancaster, and by 2012 this had become the Guide Over Sands Trust and was given the power to appoint the Queen's Guide. It was Lord Cavendish in his role as chair of the trust who visited the 86-year-old Cedric Robinson and suggested that it was time to retire: "'At the age you've got to, Mr Robinson – Cedric,' he said, 'we'd like to take the responsibility away from you and we would like you to choose a new guide'".

Federal and state officers From the official and legal point of view, the president appoints all officers of the federal government, not just the members of Cabinet and the justices of the supreme courts. This includes all military officers and soldiers, all judges, as well as all ordinary functionaries and bureaucrats. In practice however, this power of appointment is delegated to the ministers and their subordinates, although the highest-ranking officers of government are always personally appointed by the president. Because the governors of the states do not only serve as the chief executives of their respective state but also as the chief representatives of the federal government within that state, the president swears in all governors, following their election by the state diet.

Cleveland portrayed as a tariff reformer Soon after taking office, Cleveland was faced with the task of filling all the government jobs for which the president had the power of appointment. These jobs were typically filled under the spoils system, but Cleveland announced that he would not fire any Republican who was doing his job well, and would not appoint anyone solely on the basis of party service.Nevins, 208–211 He also used his appointment powers to reduce the number of federal employees, as many departments had become bloated with political time-servers.Nevins, 214–217 Later in his term, as his fellow Democrats chafed at being excluded from the spoils, Cleveland began to replace more of the partisan Republican officeholders with Democrats;Graff, 83 this was especially the case with policy making positions.

The governor of each state heads the executive branch and, depending on the individual jurisdiction, may have considerable control over government budgeting, the power of appointment of many officials, and a considerable role in legislation. The governor may also have additional roles, such as that of commander-in-chief of the state's National Guard, and in many states and territories the governor has partial or absolute power to commute or pardon a criminal sentence. 45 of the 50 states have a lieutenant governor who stands in for the governor when the governor is absent from the state or temporarily incapacitated. In most cases, the lieutenant governor ascends to the position of governor after the death or resignation of the governor, but in some states the lieutenant governor becomes an acting governor.

States are semi-sovereign republics under the federal government of the United States, and possess a number of powers and rights under the United States Constitution, such as regulating intrastate commerce, holding elections, creating local governments, and ratifying constitutional amendments. Each state has its own constitution, grounded in republican principles, and government, consisting of three branches: executive, legislative, and judicial. Also, due to the shared sovereignty between each state and the federal government, Americans are citizens of both the federal republic and of the state in which they reside. The governor heads the government's executive branch in each state or territory and, depending on the individual jurisdiction, may have considerable control over government budgeting, the power of appointment of many officials (including many judges), and a considerable role in legislation.

This principle has been adopted in hundreds of cases throughout the country and many states have enacted statutes with this identical language. See, e.g., Alabama Code Section 19-3B-505, Florida Trust Code Section 736.0505(b), Michigan Code Section 7506(c)(2), Ohio Code Section 5805.06, Utah Code Section 75-7-505(b), Virginia Code Section 55-545.05. 2\. A settlor can retain a special power of appointment without subjecting the trust to the claims of creditors.RESTATEMENT (THIRD) OF PROPERTY: WILLS AND OTHER DONATIVE TRANSFERS Section 22.1; US Bankruptcy Code Section 541(b)(1), California Probate Code Section 681; Delaware Code Section 3536; Georgia Code Section 23-2-111; New York Estates, Powers and Trusts Law 10-7.1; See In Estate of German, 7 Cl. Ct. 641 (1985) (85-1 USTC Par 13,610 (CCH)); In re Hicks, 22 B.R. 243 (Bankr.

This was an attempt to curb a particular source of corruption in elections: in many of the rotten boroughs of the period, only a few votes were needed to swing elections, and it was common for those who held the power of appointment to various well-paid official posts to reserve these for voters in return for co-operation at election time. The scale of the problem may be judged by Prime Minister Rockingham's statement that 11,500 officers of customs and excise were electors, and that 70 Commons seats were decided chiefly by such votes. William Dowdeswell had attempted in 1770 to put a stop to this practice by preventing officers of the Custom, Excise and Post Office from voting. This measure had not reached the statute book, but Crewe introduced a bill with the same object in 1780 and again in 1781, succeeding on the latter occasion in passing it into law.

By retaining a special power of appointment, the settlor should receive the following benefits: (1) The settlor can transfer unlimited amounts to the trust at any time without gift tax consequences, (2) the assets of the trust are entitled to a step-up in basis upon the settlor's death, (3) the settlor can pay the income taxes on the earnings of the trust and allow the trust to grow tax free, (4) the settlor can put a home in the trust and retain all the tax benefits of home ownership if the trust is a grantor trust, (5) the trust is eligible to own stock in an S corporation, and (6) the settlor can change the trustees, the beneficiaries, or the terms of the trust at any time. The SPA Trust is a sophisticated and highly technical legal agreement and its effectiveness in accomplishing any particular purpose will depend upon the expertise of those who create it and the circumstances of each particular case.

Soon after taking office, Cleveland was faced with the task of filling all the government jobs for which the president had the power of appointment. These jobs were typically filled under the spoils system, but Cleveland announced that he would not fire any Republican who was doing his job well, and would not appoint anyone solely on the basis of party service.Nevins, 208–211 Later in his term, as his fellow Democrats chafed at being excluded from the spoils, Cleveland began to replace more of the partisan Republican officeholders with Democrats;Graff, 83 this was especially the case with policy-making positions.Tugwell, 100 While some of his decisions were influenced by party concerns, more of Cleveland's appointments were decided by merit alone than was the case in his predecessors' administrations.Nevins, 238–241; Welch, 59–60 During his first term, Cleveland also expanded the number of federal positions subject to the merit system (under the terms of the recently passed Pendleton Civil Service Reform Act) from 16,000 to 27,000. Partly due to Cleveland's efforts, between 1885 and 1897, the percentage of federal employees protected by the Pendleton Act would rise from twelve percent to approximately forty percent.

Estate Street Partners advocates that subsequent to the structure of the Ultra Trust is set-up, that a full market value consideration exchange is created to transfer or exchange property into the trust should be executed. The grantor achieves benefits by retaining a special limited power of appointment: (1) The grantor or any third party can gift or exchange unlimited assets to the trust at any time, (2) the assets held by the trust may be entitled to a step-up in basis, (3) the grantor pays the trust's income and capital gains taxes on assets owned by the trust, allowing the trust to grow tax free, (4) the grantor can put any domestic or foreign asset into the trust including LLC Membership Units, S-Corp shares, C-Corp shares, life insurance, CD's, cash-like instruments, real estate, and a personal residence while retaining all the tax benefits of home ownership if remaining a grantor- type trust. The Ultra Trust is a sophisticated and highly technical legal agreement. Its ability to achieve a particular goal or outcome is highly dependent upon the expertise of the author of such legal agreement and an individual's specific circumstances.