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 (except a grantor type trust) is a separate legal entity for federal tax purposes. A trust may be created during an individual's life (inter vivos) or at the time of his or her death under a will (testamentary). A trust figures its gross income in much the same manner as an individual.