You create a trust for all the shares you owned. The terms of the trust say that when you die, the income from those shares go to your wife for the rest of her life. When she dies, the shares will pass to your children. Your wife is the income beneficiary and has an âinterest in possessionâ in the trust.
The Santa Clarita Valley Historical Society is a non-profit 501(c)(3) volunteer organization dedicated to preserving the heritage of the Santa Clarita Valley, 35 miles northwest of downtown Los Angeles.
Santa Clarita is one of fifteen cities in Los Angeles County where Republicans outnumber Democrats. Local government. The City of Santa Clarita is a general law city and as such is governed by a Council/Manager form of government. The city council is made up of five council members elected to four year terms. Each year the council selects a member to serve as the Mayor, a largely ceremonial position.