family trust

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Family Trust

A trust into which the trustor places assets to be distributed to children following his/her death. Specifically, a family trust does not name the trustor's spouse as a beneficiary. See also: Q-TIP.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

family trust

A trust established for the purpose of passing assets to children or other heirs rather than to a surviving spouse. See also sprinkling trust.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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The use of an FTC as a fiduciary of family trusts presents unresolved federal income and transfer tax issues.
Family trusts are separate legal arrangements that are familiar to many family business owners.
The owner of brands such as Persil and Flora has paid PS715m to buy out the shares and other rights owned by family trusts created at the time of the death of company founder William Hesketh Lever.
In an upcoming BBC programme, it is claimed that HMRC investigated the Ecclestone family's tax affairs for nine years before offering to settle for a 10 million-pound payment from the family trusts in 2008.
After a nine-year investigation into the family's tax affairs, HMRC offered to settle for a PS10million payment from the family trusts in 2008.
Offshore family trusts can be used to avoid messy, public estate battles, says Silvia On, a Hong Kong-based registered foreign lawyer at Stephenson Harwood
HSBC Bank USA, a unit of HSBC Holdings (LSE: HSBA) has been ordered by a court to pay compensation to seven Seymour Knox family trusts.
Executing planning using family trusts can provide this and can eliminate some but not all of the issues for families.
A senior Birmingham chartered accountant who has spent 40 years working with Cadbury family trusts dedicated to improving the lives of the less fortunate retired this week.
Family trusts: ownership, size, and their impact on measures of wealth and home ownership
During his life, L's mother created various family trusts; L exercised a power of appointment over these and other trusts to create various new trusts (N).
With the proliferation of family trusts over the last two decades, and the misinformation provided by some promoters of these trusts, tax practitioners now have to deal with more cases of unfunded--or stale--trusts.