See Bypass Trusts.

Accumulation Trusts are revocable trusts created to receive the money in the grantor's Individual Retirement Account (IRA) if the grantor dies before the IRA's funds are completely withdrawn. Upon the grantor's death, the Accumulation Trust becomes irrevocable. The money in the Accumulation Trust maintains its tax-deferred benefits and the grantor determines how the money is distributed. With some family exceptions, Accumulation Trusts must adhere to the Required Minimum Distribution (RMD) as required by law, including that all assets must be distributed within ten years and at least one-tenth of the assets must be distributed each year.

Asset Protection Trusts are created to protect a person's assets from creditors. They are often Offshore Trusts.

Blind Trusts are under construction.

See Massachusetts Trusts.

Bypass Trusts (also known as an AB Trust, Credit Shelter Trust, Disclaimer Trust, Exemption Trust, or Surviving Spouse's Trust) allows high-net-worth married couples to use their maximize Estate Tax Exemptions and avoid paying estate taxes.

Here's How Bypass Trusts Work: Two separate trusts are set up. After the first spouse dies and the surviving spouse disclaims any rights to inherit the assets outright, assets valued up to at least the exclusion amount owned by the deceased spouse are put into the irrevocable Bypass Trust. Although the surviving spouse must strictly adhere to the trust's plan, the surviving spouse then has access to the Bypass Trust's assets and income for the remainder of that spouse's life. Later, the Bypass Trust's assets pass to the surviving spouse's beneficiaries.

After the irrevocable Bypass Trust is funded with the deceased spouse's assets, the revocable second trust is funded by the couple's remaining assets. Because this trust is irrevocable, the surviving spouse retains control over the trust's assets and uses it unrestricted. Upon the surviving spouse's passing, the assets of both trusts pass to the named beneficiaries.

Bypass Trusts save on estate taxes for high net-worth couples, ensure that assets transfer without a long and expensive probate, and keep assets away from creditors and later spouses should the survivor remarry.

The IRS has strict requirements for the creating Bypass Trusts and there are circumstances where a Bypass Trust may not be the best estate planning technique for all couples, so you should consult an estate planning attorney for legal advice.

Charitable Remainder Trusts (CRT) have benefits of other trusts and allow charitably-minded people with highly appreciated assets avoid taxes, receive an income stream for themselves or other beneficiaries to live on for the rest of their life, and donate a large gift to one or more favorite charities. All CRTs are irrevocable.

Here's how they work. First, you create and fund the Charitable Remainder Trust, and name a Trustee to manage the CRT's assets. If the CRT is funded with physical assets, the CRT's Trustee may sell the assets, if needed, and invest the money in an income-producing investment. Because a non-profit organization will eventually receive the invested money, the sale of the assets used to fund the CRT is not taxed. If you had sold the assets, you would likely had to pay substantial tax. The income from the investment is given to you by the Trustee for the rest of your life. After your passing, the investment is given to the non-profit organization that you named when the CRT was created.

Here are the benefits of CRTs. First, when the CRT is funded, a value is placed on the future gift that will eventually be given to a charity. That value may be deductible as a charitable contribution on your income taxes in the year of the CRT's funding. Second, the assets funding the CRT are removed from your ownership and control, so they will not be taxed on any Gift or Estate tax returns filed by you or your Estate. Third, depending on the investment by the Trustee, the income you receive may be tax-free. Fourth, the value of donated highly appreciated assets are preserved.

There are three types of Charitable Remainder Trusts: (1) Charitable Remainder Annuity Trust, (2) Charitable Remainder Uni-Trust, and (3) Charitable Lead Trust. All three are briefly detailed below. The difference is how the trust's income interest is determined each year to be paid to beneficiaries. Although many options can be pre-arranged, the basic options are for the interest to be paid at a set percentage or to vary based on the market each year. Read the following for more information.

Charitable Lead Trusts (CLT), once funded, pay the interest income from its investments to a specific non-profit organization for a specific period of time and then the ownership of the CLT's assets revert to the grantor (donor) or are given to named beneficiaries. CLTs transfer assets to beneficiaries with no or less federal transfer taxes while benefitting a favorite charity and providing a gift tax charitable deduction. CLTs are not tax-exempt, so income taxes are not saved. Furthermore, the grantor does not receive an income tax deduction when funding a CLT.

Charitable Remainder Annuity Trusts (CRAT) are popular because they allow the grantor (donor) to receive an income for life for listed beneficiaries--which may include the grantor--while leaving a contribution to a charity upon the grantor's death. CRATs create a tax deduction, delay capital gains taxes, and provide a steady stream of income of at least five percent of the CRAT's value each year.

Charitable Remainder Annuity Trusts (CRAT) have five benefits. First, the grantor (donor) avoids paying capital gains taxes on highly appreciated property. Second, the grantor gets an income tax deduction in the year assets are transferred to the CRAT. The amount of the deduction is based on the present value of the qualifying non-profit organization's eventual gift. Third, CRATs generate an annuity income for the life of the grantor. Fourth, the grantor saves on Estate Taxes. Fifth, a qualifying non-profit organization receives a generous gift upon the grantor's passing.

Here's how CRATs work. Instead of selling an appreciated asset and paying capital gains taxes, you create an irrevocable Charitable Remainder Annuity Trust and fund it with one or more appreciated assets. The Trustee of the CRAT sells the assets and the proceeds fund a stable, life-long annuity payment (minimum five percent) to you or other beneficiaries for the rest of your life or a set term of up to 20 years. If set up and managed properly, the annuity income can be tax-free. Because the CRAT's Remainder Interest eventually goes to a qualifying non-profit organization, the CRAT is not required to pay taxes on the sale of the assets. Furthermore, you can deduct the present value of the future gift (the Remainder Interest) to the non-profit organization on your personal income tax return for the year the CRAT was funded. Upon your death, the CRAT's assets (the Remainder Interest) are given to the non-profit organization of your choice. Unlike CRUTs, additional contributions are not allowed to CRATs.

Be aware that there are very strict requirements that must be met for the tax benefits of any CRAT to be received. We can help you set up one of several types of Charitable Remainder Annuity Trusts that satisfy all state and IRS requirements to maximize your tax benefits while leaving a generous legacy gift to a worthy charity.

"A Charitable Remainder Uni-Trust (CRUT) is similar to a CRAT except that the yearly annuity income from the CRUT is not a set amount. Instead, it's based on the market value of the CRUT's assets which vary from year to year. Therefore, The yearly payout can be higher than a CRAT's. Furthermore, additional contributions can be made to the CRUT at any time. After a specific amount of time, the trust's assets transfer to a designated charity. By creating a CRUT, the grantor avoids capital gains taxes and may receive a tax deduction. Federal law requires the CRUT to distribute at least five percent of the CRUT's yearly income. Eventually, a charity must receive at least ten percent of the original assets. Unlike CRATs, additional contributions are allowed to CRUTs.

Charitable Trusts benefit a specific charitable purpose, such as fighting poverty, supporting education, advancing religion, promoting health, or other purposes that benefit communities.

Child's Trust are created to manage and protect assets for beneficiaries who are children until they reach a certain age to prevent spendthrift activity. The trust may direct the Trustee to spend money on the beneficiaries for certain needs, such as tuition or medical expenses. The trusts also avoid protracted and expensive Probate procedures and may avoid some taxes.

See Massachusetts Trusts.

Community Trusts are philanthropic organizations that pool their money to fund a variety of community improvement projects, including scholarships, affordable housing, land or building preservation, environmental issues, and more by providing funding designed to last for many years. Strict state and federal guidelines must be followed for the tax benefits. Community Trusts are comparable to Private Foundations, but their organizational structure is considered to be more efficient. They usually combine the assets of many individual trusts and funds.

Complex Trusts exist when the IRS deems that at least one of the following three has occurred: (1) The Trust keeps part of its income, (2) The beneficiaries receive at least some of the Trust's principal, or (3) at least a portion of the Trust's assets are distributed to a charity.

Conservation Land Trusts refers to a legal entity holding land or an easement to land for the purpose of preserving it from development or for other conservation purposes. They can be written so that certain people, like the grantor's family, can continue to have access and benefit from the land. When properly written, transferred land or easement may be tax deductible.

A Constructive Trust is created by a court when property cannot be equitably kept by the party who came into possession of it by means other than via gift or for consideration.

See Bypass Trusts.

Cy Pre means "as near as possible" and is used for charitable trust when the Trust's expressed charitable organization or purpose no longer exists or is impossible to fulfill. Instead, either another A Charitable Trust is created or the assets are given to another charitable organization close to the Settlor's original intent.

Directed Trusts, at the direction of the creator, separate the administration of some or all trust assets from the administration of the trust itself. When creating the trust, the creator may grant to a specific person(s) to manage assets, such as a family business, because of the person's unique skills, ability, knowledge, or relationship while leaving the oversight of the trust, as controlled by the law, to a different person who is the trustee.

See Bypass Trusts.

Discretionary Trusts (also known as Family Pot Trusts or Sprinkling Trusts are usually set up by parents to provide funds to their children in the event that the parents become incapacitated or die. The grantors select trustees with whom they share values and trust because they give trustees the authority to use their discretion to distribute assets to beneficiaries, or not, as they see fit. Their only limitation is their fiduciary duties to the trust and beneficiaries. Beneficiaries have no rights to distributions. Instead, the trustees—like a parent—have unlimited power to give funds, or not, as they see fit. The trustee or trustees may give, or not give, funds for medical care, college tuition, rent, transportation, insurance, music lessons, guns, tattoos, body piercing, or any other type of funding decision usually in the hands of a parent or legal guardian, regardless of the beneficiary's age. Discretionary Trusts often end when the youngest child reaches a certain age. It's imperative that the parents select the right trustee and communicate their goals, intent, and values.

A Durable Power of Attorney is not a traditional Trust that holds assets like other Trusts. Instead, it's a document where you don't wish to entrust specific medical decisions to others. Instead, your decision in narrowly defined situations is clearly stated today for tomorrow's difficult decision. A Durable Power of Attorney works when you want to control the decision or wish to avoid placing the burden of making a difficult decision on a loved one.

See Dynasty Trusts (also known as Family Pot Trusts or Sprinkling Trusts are irrevocable trusts written to create an income stream for multiple generations of beneficiaries while avoiding taxes. Because the grantor is granting the gift to the trust now, the grantor can contribute tax-free up to the current gift limits. Additional amounts gifted may be taxable. Furthermore, the income from the trust can be tax-free if in certain investments. State law may limit the length of the trust. If written properly, Dynasty Trusts may avoid Gift Taxes and the Generation-Skipping Transfer Tax.

Education Trusts fund and identify the conditions and parameters for receiving scholarships.

See Bypass Trusts.

Express Trusts (also know as Intentional Trust); is an intentionally created trust, usually in writing. In contrast is an Implied Trust created by the facts and circumstances that imply a trust was created.

See Discretionary Trusts.

See Non-Discretionary Trusts.

Generation-Skipping Trust are not as popular as they once were because the Generation-Skipping Transfer Tax was enacted that tax these types of trusts at the same rate as if the transfer was made without a trust. When they were popular, these trusts were a vehicle to transfer valuable assets to later generations. Now, wealthy individuals use Dynasty Trusts to accomplish some of the same goals.

Grantor-Retained Annuity Trust (GRAT) can reduce Estate Taxes. A GRAT is an irrevocable trust that specifies the defined period of the trust's life. During the life of the GRAT, the grantor receives a non-variable annuity payment based on the fair market value of the trust's assets according to regulations set by the IRS. The GRAT is terminated and the assets go to the estate instead of the beneficiary if either (1) the interest rate earned by the trust fails to match or exceed the IRS's rate or (2) the grantor dies before the specified end date of the trust.

Grantor-Retained Income Trust (GRIT) can reduce Estate Taxes. A GRIT is an irrevocable trust that specifies the defined period of the trust's life. During the life of the GRIT, the grantor receives a set annuity payment based on the income of the trust's assets according to regulations set by the IRS. Restrictions on GRITS include (1) the trust cannot benefit close relatives, (2) if the grantor dies before the specified end date of the trust, the assets go to the grantor's estate, not the beneficiary, and (3) the GRIT must be irrevocable. Because of the restrictions, other types of trusts are now preferred.

Grantor-Retained Uni-Trust (GRUT) can reduce Estate Taxes. A GRUT is an irrevocable trust that specifies the defined period of the trust's life. During the life of the GRUT, the grantor receives a variable annuity payment equal to the percentage of the current fair market value of the trust's assets according to IRS regulations. The GRUT is terminated and the assets go to the estate instead of the beneficiary if the interest rate earned by the trust fails to match or exceed the IRS's rate. Furthermore, the grantor may exchange similar investments with the trust to ensure the trust makes the required amount of interest each year.

A Gun Trust is Revocable Trust that a gun owner creates to own his or her guns that name Trustee who has the discretion to transfer firearms to beneficiaries according to local, state, and federal laws. Most gun owners name themselves Trustee during their life, so they have the authority to buy, use, and sell guns in the Gun Trust during their life. Upon their death, a specifically named Successor Trustee takes over to verify the legality of named beneficiaries of the Trust to receive the guns according to laws at the time of distribution and legally transfer the guns' ownership.

Regardless of your or your families' views on guns, Gun Trusts provide liability protection and ensure that a person's guns are legally and safely transferred to a legal and responsible gun person.

Implied Trusts are created by the facts and circumstances that imply a trust was created. In contrast are Express Trusts (also known as Intentional Trusts) which are intentionally created trusts, usually in writing.

See Express Trusts.

An Inter Vivos Trust is a Trust that's created during the life of the settlor.

Irrevocable Life Insurance Trusts (ILIT) ensure that all proceeds from a life insurance policy follow the intent of the insured person and avoid estate taxes. Because they are irrevocable, no one can change the trusts after they are created, which ensures that a life insurance policy's proceeds are not taxable under estate tax laws. Furthermore, the insured person designates the ILIT's asset manager and the conditions under which the ILIT's beneficiaries receive the trust's assets.

Irrevocable Trusts cannot be changed by the grantor after it's created and funded. Irrevocable trusts protect assets from creditors and avoid estate taxes because the assets used to fund the trust are no longer owned by the grantor. Instead, they become the property of the trust. If the grantor is sued or cannot pay bills (such as those to a convalescent facility), the trust's assets cannot be touched if the trust is properly drafted, funded, and managed. To truly be "irrevocable," a trust must be worded very specifically as required by various state and federal laws. Therefore, you should consult with us when considering an irrevocable trust.

One purpose of establishing a Trusts is to protect assets creditors. Another purpose for establishing a Trust as you grow older is to preserve assets when long-term care may be needed in the future. Assets moved into a Trust are removed from your control to avoid any Medicaid look-back period.

Joint Trusts are created by people who act as co-trustees and allow their money and assets to be managed together before and after they die. They also avoid probate. Married couples who live in Community Property states can greatly benefit from a Joint Trust, especially if both spouses have children from previous relationships or if one or both estates may have to pay state or federal estate taxes

Each spouse owns one-half of the Joint Trust and manages it as Joint Trustees while living. Once the first spouse dies, the surviving spouse solely manages the Joint Trust. Until the surviving spouse dies, the Joint Trust is revocable, but becomes irrevocable when the surviving spouse dies. Then, an appointed Trustee takes over management and distributes assets as directed by the Trust while avoiding Probate.

Land Trusts refers to a legal entity holding land for conservation, development, or investment purposes. are used to preserve land from development, whereas other Land Trusts hold land for development. Often used as a way to keep the true owner of real estate secret.

See Irrevocable Life Insurance Trusts.

See Revocable Trusts.

Marital Trust is any trust where spouses can transfer assets to each other free of gift or estate taxes as either a Qualified Terminal Interest Property Trust or as a Life Estate with a . Estate Taxes are avoided when the assets of the first to die pass to the trust tax free while preserving the assets for the surviving spouse's use. Then, the estate of the second to die is smaller because it holds fewer assets, thus avoiding some or all Estate Taxes. See Qualified Terminal Interest Property Trust, Life Estate, and General Power of Appointment.

Massachusetts Trusts are not limited to the State of Massachusetts and can be used in many other states and countries. They are also known as Business Trusts, Common-Law Trusts, or Unincorporated Business Organizations. They are used to run a business outside the normal legal entities like corporations or partnerships for limited liability purposes. Each owner is liable only up to the amount of their investment in the trust. They are often used to hold real property, but they are not as popular as they once were because many of their benefits have been eroded by tax and other laws.

Master Trusts are used to pool assets in an investment for centralized control and management, such as for pension or employee benefit plans where economies of scale save costs while providing access to multiple classes of investors.

Non-Discretionary Trusts (also known as Fixed Trusts) refers to any trust where the trust specifically details how the assets are to be distributed. Generally, the Trustor has no discretion in determining when or how the beneficiaries receive assets. Instead, the beneficiaries receive a set percentage or amount on a fixed schedule.

Offshore Trusts (also known as Domestic Asset Protection Trusts) are Spendthrift Trusts used to protect a person's assets from creditors by moving the assets to a trust in certain foreign countries. Offshore Trusts are managed by a Trustee, but an additional Trust Protector oversees the Trustee as an additional layer of protection. Trusts under U.S. law are required to honor court decisions from other states. However, a distress clause provides that the Trustee must disregard the Trust Protector and settlor in the event of a judgment against the beneficiary. Instead, a flight clause authorizes the trustee to move the trust assets to another jurisdiction if a creditor can possibly reach the trust assets. Some, but not all, require reporting to the U.S. Internal Revenue Service (IRS).

For many parents whose children have four legs, a Pet Trust ensures that a pet is cared for after its owner dies. An Pet Trust allows you to provide money to make sure that your pet gets the housing, food, and healthcare that you stipulate if you become incapacitated or when your pet outlives you. They are revocable, so you have the option to make changes at will. You can name your pet's Trustee and what happens to the Trust's funds when it''s no longer needed. Sadly, many pets end up in shelters when their human parent can no longer take care of them. Creating an Pet Trust today lets you control your pet''s future without you.

Pooled Trusts are trusts of any kind that are invested and managed together with other assets by a single entity.

See Discretionary Trusts.

Precatory Trusts are created by a court when language, fiduciary duties, or familial relationships express an enforceable intent or wish to create a trust.

Private Foundations are broader than Trusts and deserve a full webpage because of their many rules and regulations, but, generally, they fall into the Trust conversation. Private Foundations are well-funded organizations that promote charitable, religious, educational, research, or other benevolent purposes.

Property Control Trusts limit the beneficiary's rights to assets owned by the trust to protect from wasteful spending, manipulation by unscrupulous people, and other acts that may cause a loss to the trust's assets or income. Examples include Special Needs Trusts, Spendthrift Trusts, and Sprinkling Trusts.

Public Express Trusts are used to avoid the Rule Against Perpetuities when a trust has a charitable intent—such as education or health—and benefits a community instead of specific beneficiaries.

Purchase Money Resulting Trusts are an implied trust automatically created to hold assets upon the death of a domestic partner when both domestic partners contributed to the purchase of domestic property, but the title is only held in one partner's name.

Qualified Domestic Trusts to allow a non-U.S. citizen surviving spouse to avoid estate taxes upon their death by qualifying for the unlimited marital deduction.

Qualified Personal Residence Trusts (QPRT) avoid estate and gift taxes by holding personal residences and allowing the grantors to continue to live in them for a set period of time. After the set period of time ends, the property is transferred to the beneficiaries. The value of the property is reduced by the value of the right to live there.

Qualified Small Business Stock Trusts provide an option for qualifying small business owners to exclude the first $10 million of federal capital gains taxes on the sale of small business's stock.

Estate tax is the taxation of a person's property transferred to beneficiaries at the person's death. Gift tax is the taxation of a person's property transferred during the person's life. The Federal Estate Tax is integrated with the Federal Gift Tax, so they are both around 40 percent and have similar exclusions. Therefore, individuals cannot transfer property either during life or at death and avoid a 40 percent tax. However, a Qualified Terminable Interest Property Trust (QTIP) by allowing spouses to maximize their Unified Credit.

The Unified Credit (also known as the Applicable Exclusion Amount) allows gifts and property transfers to be exempted from gift and estate taxation. The value of the gifts and transfers allowed tax-free was set at about $11.2 million in 2018 and is adjusted yearly for inflation. However, the Unified Credit is currently set to drop to $5 million (plus adjustments for inflation) in 2026.

Property transfers between spouses don't trigger gift or estate taxes, so transferring assets may temporarily be a tax-saving strategy. Alone, spousal transfers don't avoid estate taxes completely because the spouse receiving the property will eventually incur one of the two taxes.

Qualified Terminable Interest Property Trusts (QTIP) allow couples to maximize their Unified Credit amounts while qualifying for their full marital deduction.

Real Estate Investment Trusts (REIT) are companies that own, operate, and finance real estate and produce income as part of their investment portfolio. They allow investors to indirectly buy into real estate and earn income from its operation without having to own or operate it themselves.

Resulting Trusts result when the property is returned to the settlors in trust by law after the express intended trust fails to dispose of all trust property.

Revocable Living Trusts allow a living settlor to end the trust and reclaim the trust's assets. If the settlor never reclaims trust property upon his or her death, the trust becomes irrevocable.

Revocable Trusts (also known as Living Trusts) are flexible, faster, and cheaper substitutes for Wills and Probate. They allow the grantor to make all trust management decisions including funding or defunding the trust over time. Revocable Trusts avoid the long and expensive Probate of the assets in the Revocable Trust upon the grantor's death. However, because the grantor maintains control during life, Revocable Trusts may not provide the same asset protection as other types of Trusts .

A Revocable Trust automatically converts into an Irrevocable Trust upon the grantor's incapacity or death and then the trust provides asset protection. Revocable Trusts also allow the grantor to control who manages the assets and under what conditions the beneficiaries receive distributions.

See Accumulation Trusts.

Self-Declared Trusts is when the legal and equitable owner of property states that legal title is being held for the benefit of another.

Self-Settled Trusts are irrevocable trusts created and funded by the person who is also the beneficiary, but not the trustee. Because the assets are not owned or controlled by the grantor, some states prevent the assets from being reached by creditors or taxing authorities.

Simple Trusts have three IRS restrictions which include: (1) all income must be paid to beneficiaries each year, (2) no principal or corpus assets can be paid to beneficiaries during the life of the trust, and (3) no charitable contributions can be made.

Need-based governmental benefits programs, such as Supplementary Security Income (SSI), Social Security Disability Income (SSDI), Medicare, and Medicaid, provide money or services based on a person's ability to pay for their health, maintenance, education, or welfare. The more income or money a person has the less assistance the government provides. Therefore, receiving an inheritance, personal injury settlement, or other money or assets may prevent yourself or a loved one from receiving the maximum amount of state or federal benefits available.

Special Needs Trusts prevent the loss of need-based benefits by allowing you to provide future money for yourself or a loved one without jeopardizing any income-based state or federal benefits. Instead of giving a person money or property directly, it's put into a Special Needs Trust managed by a Trustee that you appoint who is authorized to spend the Trust's income and principle solely for goods or services to benefit yourself or your loved one. That is, you can set up a source of money that can only be spent to provide a person goods or services, but not health, maintenance, education, or welfare. By specifically restricting the money from being spent on the person's health, maintenance, education, or welfare, it's prevented from being considered when the government assesses the person's ability to pay.

Special Needs Trusts are often set up to provide money to be spent on a person who has or may develop a mental or physical disability, usually a disability that prohibits the person from handling finances. Other Special Needs Trusts are set up to protect assets from consideration for future nursing home or long-term care planning.

After we take the time to learn about you and your family's needs, we may recommend a Special Needs Trusts.

A Spendthrift Trust (also known as a Child's Trusts) is created for children who are minors to have assets saved and managed until the child or children mature. The grantor can set specific instructions on how the trustee can spend money or give it to the beneficiary. The trustee can also be given broad discretion to give money as needs arise, such as paying college tuition or medical expenses. The trust document can be written to prevent the distribution of assets until the beneficiary is well into adulthood. They can reduce taxes and avoid the long and expensive Probate process.

See Discretionary Trusts.

See Special Needs Trusts.

Support Trusts require the trustee to pay only for the beneficiary's education and support and doesn't allow payments for anything else. Therefore, the debts of the beneficiary cannot be paid from the Trust.

See Bypass Trusts.

See Totten Trusts.

Testamentary Trusts are created in a Will when the testator dies.

Third-Party Trusts are Special Needs Trusts funded by assets owned by someone other than the beneficiary at the time of funding.

Totten Trusts are bank accounts where the account's assets automatically transfer to a beneficiary upon the depositor's death without going through Probate. Depositors can easily change an account's beneficiary.

Trust is a formal legal document that holds legal title to assets given by a Settlor and employs a Trustee who has a fiduciary responsibility to manage the assets while the benefits of the assets go to the beneficiaries.

See Massachusetts Trusts.

A Voting Trust is when one or more shareholders transfer both legal title and voting rights of their shares of stock to a Trustee for a period of time for the purpose of creating a unified voting block that has a stronger voice on corporate matters than individuals have alone.