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Keywords:
Testamentary,
Fiduciary,
Settlor,
Grantor,
Beneficiary
An estate devised or granted in confidence that the devisee or grantee shall convey it, or dispose of the profits, at the will, or for the benefit, of another; an estate held for the use of another; a confidence respecting property reposed in one person, who is termed the trustee, for the benefit of another, who is called the cestui que trust.
A business organization or combination consisting of a number of firms or corporations operating, and often united, under an agreement creating a trust (in sense 1), esp. one formed mainly for the purpose of regulating the supply and price of commodities, etc.; often, opprobriously, a combination formed for the purpose of controlling or monopolizing a trade, industry, or business, by doing acts in restraint or trade; as, a sugar trust. A trust may take the form of a corporation or of a body of persons or corporations acting together by mutual arrangement, as under a contract or a so-called gentlemen's agreement. When it consists of corporations it may be effected by putting a majority of their stock either in the hands of a board of trustees (whence the name trust for the combination) or by transferring a majority to a holding company. The advantages of a trust are partly due to the economies made possible in carrying on a large business, as well as the doing away with competition. In the United States severe statutes against trusts have been passed by the Federal government and in many States, with elaborate statutory definitions.
Held in trust; as, trust property; trustmoney.
A verbal or written arrangement whereby one person or persons (trustees) agree to take care of assets and to use those assets in particular ways for particular people (beneficiaries).
An arrangement where trustees (those responsible for the trust) hold assets for the benefit of particular people (the beneficiaries). The trust deed will set out how the trustees must deal with the income and capital of the trust.
Ancient legal practice where one person (the grantor) transfers the legal title to an asset, called the principle or corpus, to another person (the trustee), with specific instructions about how the corpus is to be managed and disposed.
An arrangement made legally where a trustee holds a title to assets for the benefit of another person or group of people.
An entity created to hold assets for the benefit of certain persons or entities, with a trustee managing the trust.
an arrangement under which an individual (the settlor) transfers property to a person or institution (the trustee) to be managed for the benefit of one or more beneficiaries.
A trust which may not be terminated after its creation by the grantor
any arrangement in which property is to be held and administered by a trustee for the benefit of those for whom the trust was created. Depending on the type and how it is established, a trust may be revocable (changeable) or irrevocable (not changeable)
A legal agreement created to control the distribution of assets for the benefit of one or more parties, including the surviving spouse, children, or charities.
A legal arrangement in which one individual or trust company is responsible for holding and managing the assets for the benefit of another.
A relationship between persons by which one holds property for the use and benefit of another. The relationship is called fiduciary.
A comprehensive, personalized asset management plan that accomplishes specific purposes for the maker of the trust and the trust's beneficiaries. The donor may serve as the trustee.
A legal arrangement in which an individual (the trustor) gives fiduciary control of property to a person or institution (the trustee) for the benefit of one or more beneficiaries. For more information, visit How Living Trusts Avoid Probate.
An arrangement through which property is held and managed by a trustee for the benefit of others. Irrevocable Trust: A trust that cannot be revoked by the person creating it. Inter Vivos or Living Trust: A trust established and effective during the lifetime of the person creating it. Revocable Trust: A trust that may be revoked by the person creating it. Spendthrift Trust: A trust drawn to protect the beneficiary from creditors or an inability to manage or administer personal financial affairs. Testamentary Trust: A trust created by a will.
a written document, creating a legal entity to take over ownership of property, documents, request or other assets on behalf of the grantor.
An equitable right or interest in a property distinct from the actual legal ownership of said property. Temporary or conditional terms exist under a trust until ownership can legally be transferred. The more common types of trusts are as follows: A-B Trust, Charitable Trust, Credit Equivalent Bypass Trust (CEBT), Crummey Trust, Inter-Vivo Trust (CEBT), Life Insurance Trust, Living Trust, Marital Trust, Minor's Trust (Section 2503(c), Pourover Trust, Qualified Domestic Trust (QDOT), Qualifying Terminable Interest Property (QTIP) Trust, Secular Trust, Rabbi Trust, and Testamentary Trust.
Generally, the assumption that an entity will behave substantially as expected. Trust may apply only for a specific function. The key role of this term in an authentication framework is to describe the relationship between an authenticating entity and a certificate authority (CA). An authenticating entity must be certain that it can trust the CA to create only valid and reliable certificates, and users of those certificates rely upon the authenticating entity's determination of trust.
a legal document which specifies the terms and conditions for managing certain assets—and designates a person to manage (act as a trustee of) those assets. The trustee is responsible for making sure that assets are managed properly and ultimately administered to beneficiaries of the trust, as outlined by the person who created the trust, typically referred to as the trustor, settlor or donor.
A legal arrangement in which an individual (the trustor) gives fiduciary control of property to a person or institution (the trustee) for the benefit of beneficiaries. Also, a monopolistic corporation, prior to the enactment of antitrust laws. see also real estate investment trust, alternative minimum tax, Bank Trust Department, blind trust, breach of trust, bypass trust, revocable trust, irrevocable trust, cartel, charitable remainder trust, charitable lead trust, investment trust, collateral trust certificate, fiduciary, corporate trust, deed of trust, depository trust company, Depository Trust Company, discretionary trust, inter vivos trust, ESOP, equitable owner, estate planning, fiscal agent, Generation-Skipping Transfer, Ginnie Mae trust, grantor, individual policy pension trust, nondiscretionary trust, power of appointment, REIT, revisionary trust, testamentary trust, Uniform Gift to Minors Act, unit investment trust, voting trust.
A relationship in which a person or entity (the trustee) has legal control over certain property (the trust property or trust corpus), but is bound by fiduciary duty to exercise that legal control ...
A legal entity created to protect the assets or money of another - usually minor heirs. A testamentary trust is created in a person's will, while an inter vivos trust is already created during his lifetime.
A legal mechanism through which a person or organization administers assets and their use for the benefit of one or more designated persons.
An arrangement where one party (the trustee) holds legal title to the property for the benefit of one or more beneficiaries.
A fiduciary arrangement whereby property is conveyed to a person or an institution, called a trustee, to be held and administered on behalf of another person or entity, called a beneficiary. The one who conveys the trust is called the truster.
A fund established under local trust law to hold and administer the assets of a plan.
A legal entity set up by a person to hold assets generally for the benefit of another person or persons. A trust is administered by an appointed trustee.
means an arrangement where property is held by one or more people (the trustees) at the request of another person (the settlor) for the benefit of a third party (the beneficiary), or for charitable purposes. Trusts are governed by a document called a trust deed and may have a number of purposes. However, to comply with the Charities Act 2005, only one of those purposes needs to be charitable.
A fiduciary relationship in which one person is the holder of title to property subject to an obligation to keep or use the property for the benefit of another. A fiduciary is one who holds something in trust for another and is usually called the trustee. The property contributed to a CRT is held by the trustee in trust for the benefit of the income recipients and the charitable remaindermen.
A legal relationship in which one party holds legal title to property for the benefit of another, without maintaining ownership of that property.
A legal entity created by a grantor for the benefit of designated beneficiaries. A retiree may designate a trust as the beneficiary for his or her $4,000 death benefit.
An abbreviated term for the Arabian Horse Trust; also a declaration by an owner that from a given date, specified property will be held in trust for beneficiaries.
a legal entity created by a grantor under which a trustee takes legal title to and manages property transferred into the trust
An obligation recognised at law, upon the legal owner of property, to hold property wholly or partly for the benefit of another person.• De Facto Property Settlement
Trust is an evaluation, by an entity, of the reliablity of an identity when the identity is involved in interactions. [See also: Trust is an Emotion.] The level of trust is typically based on the technical strength of the identity, but it also includes the evaluating entity's subjective considerations (e.g. feelings) of the reliability of the entity the identity represents. Trust is at least partially transitive (as in the case of notaries).
A legal entity established either by a trust agreement signed by a person during the person's life or arising after death from a will or testamentary trust. The trust is governed by the terms in the documents. A trust can last as long as 50 years, if not longer, so must be written with great care.
An agreement between the grantor and the trustee, naming the trustee to control the grantor's property, or some of it, for the benefit of a beneficiary. The beneficiaries hold "equitable title" to those assets. The trust agreement defines the trustee's powers and duties. Trusts of various types are frequently used in estate planning to achieve tax, financial, and personal objectives.
A tax entity, created by a trust agreement, which distributes all or part of its income to beneficiaries per the trust agreement. A trust is required to pay its own income taxes.
A legal entity established by a trust agreement signed by a person during his or her life or arising after death from a will or testamentary trust.
A legal arrangement in which the title (or management) or property is separated from the benefit of the property.
A trust is not technically an ãorganizationä it is the set of rights and responsibilities between the trustee and beneficiary with regard to the assets of the trust (the ãcorpusä). The legal requirements to establish a trust are a grantor, a trustee, a beneficiary, corpus and a legal purpose.
A relationship created when one party, the grantor, transfers property to a second party, the trustee, for the benefit of third party(ies), the beneficiaries.
An arrangement under which money or other property is held by one person or company (often a trust company) for the benefit of another person or persons. These assets are administered according to the terms of the trust agreement. Each province has a trustee act, which regulates the kinds of investments that can be made by the trustees of a trust fund.
Title to real property in California may be held in a title holding trust. The trust holds legal and equitable title to the real estate. The trustee holds title for the benefit of the trustor/beneficiary who retains all of the management rights and responsibilities.
A legal arrangement involving the person who created a trust giving fiduciary control of said property over to the trustee, which would be another person or an institution. This web site only has information about offshore trusts.
A legal arrangement where a person (a Trustee) is made the nominal owner of property to be held or used for the benefit of one or more others. In other words, money and property are 'held' safely by one person on behalf of another such as a child.
A trust is an arrangement bound by law in which someone gives soneone else, called a trustor, control of investments, property, cash, or other assets. The trust is managed for the benefit of the beneficiaries, usually kids.
A relationship established by agreement between a grantor and a trustee to manage assets or property for another's benefit.
A separate legal entity that is used to hold assets, usually for management and investment.
An arrangement to give property to a person to administer and manage for the benefit of beneficiaries according to the terms in your will or trust agreement.
the property (real or financial) held by a person or institution for the benefit of another person
An estate planning document sometimes called an inter vivos trust or a revocable living trust.
Trust includes an express trust, private or charitable, with any additions, wherever and however created, revocable or irrevocable. Trust also includes a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust.
Legal arrangement under which one person controls property given by another person for the benefit of a third person. The person in control is the Trustee. The person giving property is often called the Settlor/Grantor and the person receiving the benefit is the Beneficiary.
A legal relationship whereby a trustee holds/owns an asset for the benefit of a beneficiary. Unit trusts are investments which are commonly structured on the basis of such a relationship and involves investors pooling their funds for a common investment purpose. These investors are beneficiaries of the trust.
A legal entity created by a grantor for the benefit of designated beneficiaries; the trustee holds a fiduciary responsibility to manage the trust's assets and income for the benefit of all beneficiaries.
an interest in property held by one person for the benefit of another.
Property owned or managed by a person for another.
An obligation binding the trustee(s) to deal with property over which they have control (the trust property) for the benefit of the beneficiaries.
The situation where a person (the Trustee) holds property for the benefit of one or more people (the Beneficiaries). A will creates a testamentary trust. The executor is the trustee of the estate for the benefit of the beneficiaries.
An arrangement for holding legal property and managing the property for the benefit of another trustee. The holder of legal title to property for the management, use, or benefit of another.
A separate legal entity that holds property for the benefit of the grantor (creator) of the trust or his or her heirs. A trustee manages the assets that are placed in |