George Washington set a lot of precedent's while he was in office. For example; in 1796, he published his Farewell Address. In it, he announced that he retired. Washington a â¦ lso set another important precedent at the end of his second term in 1796.
What Is a Trust Statement? Trusts are an important part of an estate planning process, and can save a grantor and his beneficiaries valuable time and money. When the grantor of an estate dies, the responsibility of managing the trust and distributing funds to beneficiaries falls to the estate trustee.
A trust is a vehicle for holding, and passing on, family property. As such, it typically serves at least one of two purposes: It can reduce a familyâs taxes by shifting income to members in lower tax brackets, and it can provide for less fortunate (or more impulsive) members by controlling how their money is disbursed.