Business Law

Ask a Business Lawyer. Get Business Law Questions Answered ASAP.

Ask a Lawyer,
Get an Answer ASAP!

Business Law

How do I set up a legal defense trust fund? I live in Rockville,

Customer Question
MD....
How do I set up a legal defense trust fund? I live in Rockville, MD.
Submitted: 5 years ago.Category: Business Law
Ask Your Own Business Law Question
Answered in 33 minutes by:
8/2/2012
Business Lawyer: Law Educator, Esq., Attorney replied 5 years ago
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 119,555
Experience: All corporate law, including non-profits and charitable fraternal organizations.
Verified
You would have to form a legal trust first. The trust would have a trustee appointed and then you apply for a tax id number from the IRS. As this is not a charitable purpose, any income to the trust would have to be claimed and the trust would have to pay taxes on the money. You would need an attorney locally to draft the trust documents outlining how the money can be spent and who the trustee would be and who the beneficiary would be. Then you get the IRS tax ID and you can open a bank account in the name of the trust.


I hope you found my answer helpful, but please understand that if you did not get all of the information you may have wanted PLEASE USE THE REPLY TO EXPERT LINK IF YOU HAVE FOLLOW UP QUESTIONS AND NOT THE FEEDBACK BUTTON FOR BAD SERVICE. PLEASE CLICK ON “OK,” “GOOD” or “EXCELLENT” SERVICE. Kindly remember to ONLY rate my answer when you are fully satisfied. If you feel the need to rate anything less than OK, please stop and reply to me via the or REPLY TO EXPERT button with whatever issue or clarification you may need.

I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

PLEASE NOTE WELL, LEGAL ANSWERS TAKE MORE THAN “MINUTES” TO PUT TOGETHER AS WE ARE DEALING WITH LAWS OF 50 STATES PLUS FEDERAL LAWS, AS WELL AS DEALING WITH OTHER CUSTOMERS, SO PLEASE BE PATIENT IT WILL BE MORE THAN “MINUTES” IN SOME CASES BEFORE YOU GET A RESPONSE, BUT BE ASSURED YOU ARE NOT BEING IGNORED.

There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.

You can always request me through my profile at http://www.justanswer.com/law/expert-paulmjd/ or beginning your question with “For PaulMJD…”

Ask Your Own Business Law Question
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 119,555
119,555 Satisfied Customers
Experience: All corporate law, including non-profits and charitable fraternal organizations.

Law Educator, Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Attorney

1,793 satisfied customers

Experienced lawyer

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

1,611 satisfied customers

Run my own successful business/contract law practice.

MShore Law

MShore Law

Attorney

1,233 satisfied customers

Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

Attorney

742 satisfied customers

Licensed Texas General Practice Attorney

Barrister

Barrister

Attorney

640 satisfied customers

17 years practicing attorney, JD, BA, MBA

Ely

Ely

Attorney

564 satisfied customers

Counselor at Law.

J.Hazelbaker

J.Hazelbaker

Attorney

393 satisfied customers

Experienced and trained in the area of business law.

< Previous | Next >

Related Business Law Questions
I received a certified irs letter this morning but am at
I received a certified irs letter this morning but am at work so I'm worried sick I sent 11,000 on 10-15 return for 2016. I'm in CNC two years. I received about a month ago a tax bill for each tax yea… read more
DrakeLAW
DrakeLAW
Juris Doctorate
838 satisfied customers
We originally signed an NDA with a potential partner. We
We originally signed an NDA with a potential partner. We have since separate that relationship and we have been asked not to use their documents language and to return said documents. Can you recommen… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,793 satisfied customers
How to fill out a "Stock Transfer Ledger" for a C Corporation
How do you fill out a "Stock Transfer Ledger" for a C Corporation? I have the "Original Issue" filled in but not sure how to record transfers. The original issue was 100 shares to one person. The 1st … read more
mclemorelawyer
mclemorelawyer
Doctoral Degree
4 satisfied customers
We signed an NDA with company #1. Company #1 put us in
We signed an NDA with company #1. Company #1 put us in contact with Company #2 and company #3. Company #2/3 gave us several documents to start a project. We have since decided to part ways with Compan… read more
Legal Expert Justin
Legal Expert Justin
Law Degree
193 satisfied customers
I have a hand written agreement, signed but not dated, which
I have a hand written agreement, signed but not dated, which states "We agree that we will make an agreement in which I (party A) will convey half interest in my property located ------(address) to (p… read more
lwpat
lwpat
Doctoral Degree
256 satisfied customers
I'm trying to understand the best legal entity to form. Here
I'm trying to understand the best legal entity to form. Here is the scenario. There are 4 partners (not all equal equity %). All 4 of us each own our own corporations or LLCs. Our corporations simply … read more
DrakeLAW
DrakeLAW
Juris Doctorate
838 satisfied customers
As a non profit can I solicit lost and found money to
As a non profit can I solicit lost and found money to potential customer and charge them a fee if money is found?… read more
LegalGems
LegalGems
Juris Doctorate
10,176 satisfied customers
I own a Medical Supply business and one of our referral
I own a Medical Supply business and one of our referral sources at the hospital has an employee that does business with us privately and works for our referral source. He left a message for an employe… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
119,555 satisfied customers
I have a question about transferring bank accounts from one
I have a question about transferring bank accounts from one person to another in a non profit buisness … read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,685 satisfied customers
Home supply store refund; I purchased paint/stain from a
Home supply store refund; I purchased paint/stain from a large home supply chain. I was told that the finish would dry glossy. It cost me $600. for supplies and $3,000 for labor to coat 2 buildings.Th… read more
LegalGems
LegalGems
Juris Doctorate
10,176 satisfied customers
What are the proper procedures a Holding Company must adopt
What are the proper procedures a Holding Company must adopt for electing directors of a newly-acquired wholly-owned subsidiary?… read more
JaxLawyer
JaxLawyer
Solo Practitioner
Doctoral Degree
257 satisfied customers
Ray, I don't know if you can see our last correspodnece. If
Ray, I don't know if you can see our last correspodnece. If so, do I have a time line/Statute of limitations on the issues? Many thanks… read more
Ray
Ray
Lawyer
Doctoral Degree
30,227 satisfied customers
I own 50% in an LLC which owns one building and has a
I own 50% in an LLC which owns one building and has a tenant. after my father became ill and passed away a year ago and his partner stopped paying me all distributions over a year ago. we've written l… read more
LegalGems
LegalGems
Juris Doctorate
10,176 satisfied customers
I need an attorney licensed in the state of Indiana. I have
I need an attorney licensed in the state of Indiana. I have a question concerning a privately held company incorporated in Indiana. They issued me a stock certificate that has been sealed with a corpo… read more
Irwin Law
Irwin Law
Juris Doctor JD
7,051 satisfied customers
We are an international organization representing a
We are an international organization representing a Stateless Minority known as Romani People. The global Romani populations is approx. 12 Million. It happens to be among the most discriminated races … read more
N Cal Atty
N Cal Atty
Doctoral Degree
59 satisfied customers
I am beginning a website and need a legal disclaimer. I have
I am beginning a website and need a legal disclaimer. I have written one, but wonder: … read more
Dwayne B.
Dwayne B.
Juris Doctor
28,499 satisfied customers
Deposit on file - refund desired: My friend sent a musical
Deposit on file - refund desired: My friend sent a musical instrument company $15,000 three years ago. She purchased a cello for $12,000. She has an outstanding credit of $3,000. The company seems ver… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,992 satisfied customers
I live in CA and I want to start 2 businesses. I will be the
I live in CA and I want to start 2 businesses. I will be the sole proprietor. Business #1 (Ken's Store). General merchandise sales on the internet. Business #2 (Ken's Furniture). Furniture/Mattress sa… read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,685 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x