In a passive trust the trustee simply has title to the trust property, while its control and management are in the beneficiary. 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...
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...
A trust is therefore not a separate entity, but a relationship. A trust begins when a person (the settlor) transfers assets (the trust fund) to a trustee or trustees, who will hold those assets and preserve or where appropriate enhance their value until such time as all or part of the ...
The many similarities between banks and credit unions might leave you wondering which is right for your own needs. Both types of institutions allow you to safely deposit or borrow money for a range of uses, but there are differences between the two when it comes to how you want to handle...