- 4 - $700 dated December 13, 1996, that was deposited into the trust bank account. The trust agreement provided that any other person could add property acceptable to the trustee. Richard Pelham operated the lock and key business under the assumed name “Lake Lock & Key” until November 14, 1996, when he filed a Withdrawal Notice of Assumed Name certificate, stating that the trust would be conducting business under the name “Lake Lock & Key”. The operations of the lock and key business did not change after the business was transferred to the trust. As trustee, Richard Pelham performed the same duties for Lake Lock & Key that he performed before the creation of the trust. Lake Lock & Key used the same work order invoices. Lake Lock & Key used the same taxpayer identification number for the filing of sales tax returns to the State of Texas and for the filing of State unemployment tax returns both before and after Richard Pelham began operating the business through the trust. Richard Pelham worked for Lake Lock & Key both before and after the establishment of the trust. After the establishment of the trust, Richard Pelham, both individually and as trustee, entered into a signed Employment Contract dated October 1, 1996. In that contract, Richard Pelham agreed to provide his services as a “chief residential and commercial lock and key service technician” in exchange for a salary of $30,000 annually.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011