The meaning of TRUST is assured reliance on the character, ability, strength, or truth of someone or something. How to use trust in a sentence.
Charitable:A charitable trust fund can benefit a particular charity or the general public. This includes aCharitable Remainder Annuity Trust (CRAT)that pays a fixed amount each year. A Charitable Remainder Unitrust passes assets to a specified charity when the fund expires and gives the donor a c...
The meaning of TRUST is assured reliance on the character, ability, strength, or truth of someone or something. How to use trust in a sentence.
A: The amount and types of distributions are based on the trust’s terms. In some, net income is required to be distributed each year, and principal is available for specific purposes. In others, the trustee has full discretion to make distributions, but often they can only be for specific...
to a trustee and eventually to beneficiaries. Trusts define the management of the assets, distributions to designated beneficiaries, and the ultimate disposition of the assets. The trustee is a fiduciary obligated to handle the trust assets by the terms of the trust document and solely in the bes...
It is a relatively straightforward process to decipher if a trust is a simple trust or not. There are three main criteria that a trust must satisfy to be considered a simple trust. These criteria include: The trust does not use distributions as charitable donations. All trust income is distri...
However, a testamentary trust can be established to manage charitable distributions as well. In their will, a grantor can create separate trusts for each beneficiary, which split assets equally, or a family trust allowing assets to be distributed based on a beneficiary’s need. How do testament...
Trust Distributions. The Trustee may make payment of money or other delivery of property out of either the income or principal of the Trust in furtherance of the Charitable Purposes (each, a “Distribution”). The Trustee shall not be limited in any way with regard to Distributions of the pr...
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 allmoneynot ...
Charitable Lead Trust (CLT) A charitable lead trust (CLT) pays its income to a charity for a specific period of time, after which the trust’s remaining assets are given to its grantor’s family or another non-charitable beneficiary. ...