Category Archives: Richard T. Howard

Richard T. Howard

An Overview of the Thomas Publishing Company

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Newport, CA, resident Richard T. Howard is an accomplished trust manager and the owner of CDAMT. His vast experience has allowed him the chance to offer his expert services to many clients. Richard Howard is also an architectural technology graduate of Memphis State University who has had an illustrious career. During the course of his professional career, he has won five Top Sales Awards from Thomas Publishing Company.

Thomas Publishing traces its roots back to 1890 when it was started by Harvey Mark Thomas. Since then, the family-owned company has become an innovative and informational leader. Over the years, Thomas Publishing transitioned from an industrial trade print publisher to a well-known stakeholder in the information technology industry.

The company has worked hard to connect both buyers and suppliers from various industrial sectors. For suppliers, Thomas Publishing provides proprietary technology that greatly improves the performance of both their websites and sales channels. On the other hand, buyers benefit from comprehensive company and product information.

Finance, Richard T. Howard

Establishing a Charitable Trust

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An alumnus of Memphis State University, Richard T. Howard is a manager of trust services with CDAMT in Newport Beach, CA, where he has provided legal services to trusts on behalf of more 1,100 clients. Richard T. Howard is also a trust facilitator with Masters Copyrights, LLC. In this role, he helps produce and market private, real estate, and charitable trusts, among others.

A charitable trust refers to a set of assets designated for philanthropic use and, in many cases, is established for the purpose of creating a charitable foundation. These assets are managed by the charity, which is then entitled to some, if not all, of the tax-free interest they generate via annual payments known as annuities or unitrusts. There are two basic types of charitable trusts: lead trusts and remainder trusts.

A lead trust is one that is controlled by the donor and generally passed down to his or her beneficiaries following its expiration, whereas assets in a remainder trust are signed over to the specified charity following a certain amount of time. The Bill and Melinda Gates Foundation Trust is the most prominent example of a remainder trust. It has assets in excess of $30 billion and expires 50 years after their deaths.

While philanthropy is a primary objective of establishing a charitable trust, they also have tax-related benefits. Donors who own highly appreciated assets can receive federal income tax deductions dependent upon the trust’s value.

Finance, Richard T. Howard

Definitions of Common Terms Associated with Trust Management

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Trust pic
Trust
Image: investopedia.com

Newport Beach, CA resident Richard T. Howard is an established trust manager with over 1,100 clients served. A trustee at Newport Beach, CA-based CDAMT, Richard T. Howard facilitates legal services for trusts and trains clients on the details of trust management.

Below are the definitions of some of the most common terms in trust management:

– Trust. A trust is a legal entity created to manage or transfer property. It is established when a settlor transfers assets to a trustee with the understanding that the latter will use or otherwise manage the property as provided in the trust agreement, for the ultimate benefit of the trust’s beneficiaries.

– Trust estate. This is the sum of property transferred to a trustee by a settlor for holding and management subject to the conditions of the trust. The property held in trust is not subject to turnover (though some states have exceptions to these creditor protections). The properties also benefit from certain tax advantages.

– Settlor. This is the person who initiates the creation of a trust by transferring property to a trustee. Settlors are also called trustors, creators, or grantors.

– Trustee. This is a person or corporate entity holding legal title to a trust. A trustee holds and manages the trust estate and is legally obligated to abide by the terms established in the trust.

– Beneficiary. This is the person or entity that benefits from a trust estate. They do not hold equitable title over the trust estate, only a beneficial interest. Therefore, they have no right to manage the trust or access its business records.