trust

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Trust

A fiduciary relationship calling for a trustee to hold the title to assets for the benefit of the beneficiary. The person creating the trust, who may or may not also be the beneficiary, is called the grantor.

Trust

1. A relationship in which one party, known as the trustor, gives to a person or organization, known as the trustee, the right to hold and invest assets or property on behalf of a third party, known as the beneficiary. Most trusts exist to provide for the financial future of a minor child or mentally incompetent person. Trusts may also be set up to benefit charitable organizations. The trust agreement indicates at what time, if any, the beneficiary takes direct control of the assets. The beneficiary often receives disbursements to meet basic expenses until the time comes when the beneficiary takes control. Trusts are taxed on all money not given to the beneficiary. See also: Escrow, Charitable trust.

2. See: Monopoly.

trust

A legal arrangement whereby control over property is transferred to a person or organization (the trustee) for the benefit of someone else (the beneficiary). Trusts are created for a variety of reasons, including tax savings and improved asset management. See also charitable lead trust, charitable remainder trust, Clifford trust, marital-deduction trust, QTIP trust.

Trust.

When you create a trust, you transfer money or other assets to the trust.

You give up ownership of those assets in order to accomplish a specific financial goal or goals, such as protecting assets from estate taxes, simplifying the transfer of property, or making provision for a minor or other dependents.

When you establish the trust, you are the grantor, and the people or institutions you name to receive the trust assets at some point in the future are known as beneficiaries. You also designate a trustee or trustees, whose job is to manage the assets in the trust and distribute them according to the instructions you provide in the trust document.

trust

  1. a collection of ASSETS held and managed by appointed trustees on behalf of an individual or group of people. Trusts are often established to minimize the amount of INCOME TAX and WEALTH TAX an individual or group is required to pay. See TRUSTEE INVESTMENTS.
  2. see UNIT TRUST.
  3. an alternative term for a CARTEL (most commonly used in the USA).

trust

  1. ASSETS held and managed by trustees on behalf of an individual or group. While these assets are held in trust, the beneficiaries have no control over the management of them. In the UK, trusts have been used extensively to minimize the effects of income and wealth taxes.
  2. (formerly, in the USA) a means of organizing CARTELS, provoking the establishment of anti-trust (anti-monopoly) legislation.

trust

The practice of one party holding legal title to real property or other assets for the benefit of someone else,called the beneficiary.The one with the legal title is called the trustee.The person or entity that set up the trust is called the trustor.Trusts are extremely important in tax and estate planning but should almost never be established without the assistance of a tax attorney who is well skilled in the area. A very slight deviation from the format acceptable to the IRS could prove disastrous.

Trust

A tax entity created by a trust agreement. This entity distributes all or part of its income to beneficiaries as instructed by the trust agreement. This entity is required to pay taxes on undistributed income
References in periodicals archive ?
According to Funa, 'Provident Plans told the IC that it has regularly met with its new trustee bank-UCPB-but the latter apparently did not do anything to protect the trust fund investment of the pre-need firm in EIB.
Since the debtor had commingled the project owner's payments subject to trust fund status with non-trust property, the parties had to trace the commingled funds to determine whether any trust funds were included as part of the alleged preference.
As of 19 November, the best interest rate for a Child Trust Fund was 3%, and the best interest rate for a Junior ISA was 6%.
Each obligation issued for purchase by the Trust Funds under this
Calling 0800 496 0590, or you can go to the Child Trust Fund Cymru website www.
A corporate installment agreement for the unpaid taxes or security offered by the corporation for the payment of the trust funds might cause the IRS to not pursue the responsible person penalty.
Members of the legislature and media also received press kits designed by the Florida Housing Coalition containing important information and data about the housing trust fund dollars, potential loss of job index, loss of actual houses and statistics indicating loss of economic power throughout the state of Florida, county-by-county.
As of mid-March, the state Senate was working on a measure to reauthorize the housing trust fund.
Worse still, it is now clearly established that the absence of the filing of a notice of lending leaves a lending institution liable for a claim of trust fund "diversion" when it "pays itself back" with trust fund assets its own construction loan had created.
If trust funds are a single analytical category, then why do they not have a single generalizable impact on politics?
7501 trust fund taxes in their determination of reasonable cause, their analysis must not stop there.
I'd met someone from the group earlier in the year and, considering my love of both buses and the intricacies of Social Security, had expressed interest in riding along if they motored out to the Bureau of the Public Debt in West Virginia to inspect the Social Security Trust Fund.