Letter of Direction for Trust- What Is It!
Letter of direction is a formal letter, which gives guidance and instruction to the recipient of the letter. Moreover, this can be used as the warning letter in the workplace or trust giving the culprit, instructions to proceed. For instance, an employer can summon an offender to attend meetings with his or her boss at the end of work every day using this form of the letter.
Use of Letter of Direction
The land trust is one of the most inexpensive and simple methods that can be used to handle the ownership of a property. Using this process one can limit the length of the tenure and restrict the director in the agreement. This ensures that no abuses of the property occur. If any sort of abuses occurs with the property, the owner can issue the letter of direction to the competent authority.
Things to Remember
Now while giving power of attorney of the property to the trustee, it is important to make sure that the director and the trustee are legally separate from each other. This will help to avoid abuses of the property. When writing the letter of direction to the trust, make sure not to mention the name of beneficiary anyhow. Being the owner of the property, you can form a board of directors to smoothly operate your property. And moreover, you can mention in your deed that the trust would never do any sort of action without your Letter of Direction for Trust.
So this form of letters is nothing but a legal contract between the owner and the trustee.