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Hi and welcome to JA. Ray here to help tonight.
Here if the Trust owns the stock this should not be a conflict.The legal entity the trust has legal title As long as the trust holds title here they are the legal owner , the beneficiaries only are the equitable owners.The trustee would own the stock under the terms of the trust document.The trustee would have power of sale if the trust requires it at some point. The trust here really is a legal means to overcome the bylaw, it is legal for the trust to do so here in Arizona.
I appreciate the chance to help you tonight.Thanks again.
An estate-planning device used to pass down assets after death without subjecting them to the estate tax. A bypass trust is a type of irrevocable trust and is most commonly used to pass assets from parents to children at the time of the second parent's death. It is structured so the children will not have to pay estate taxes on those assets in excess of the current estate tax exemption. The trust is the legal owner of the stock for the benefit of the beneficiary.
If you can positive rate it is always much appreciated.