Activation or Commencement Sample Clauses

Activation or Commencement. Activation or commencement of the trust occurs once the trust is funded with assets as specified in the trust agreement. • This step is crucial because it marks the point at which the trust becomes operational. The trustees gain control and responsibility for managing the assets according to the trust’s provisions. • For legal and practical purposes, the trust must be activated before it can carry out its intended functions, such as making distributions to beneficiaries or investing trust assets.