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Document Id : 5218
File Type : Microsoft Word
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USA Qualified Settlement Funds Trust Agreement re Chapter 11 Filing
Set up a Qualified Settlement Funds Trust with this Irrevocable Trust Agreement template for the USA.
- A QSF trust is created pursuant to Section 468B of the Internal Revenue Code, following a debtor's filing of a Chapter 11 bankruptcy petition.
- The trustee will hold the assets and proceeds of the debtor until such time as the trustee settles with the creditors.
- This form of trust allows the debtor to liquidate appreciated assets, pay the proceeds into trust for the benefit of the creditors and take a current income tax deduction for the payment.
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