USA Qualified Settlement Funds Trust Agreement
Set up a Qualified Settlement Funds Trust under U.S. bankruptcy laws with this downloadable template.
- This is an irrevocable trust that cannot be revoked once it is established.
- A QSF trust is created under Section 468B of the Internal Revenue Code, following the filing of a Chapter 11 bankruptcy petition by a debtor.
- A trustee is appointed to 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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Last Updated: 14-April-2016