All trust funds are either revocable or irrevocable. Both are referred to as"living" trustswhen the grantor creates them during their lifetime. A "testamentary" trust is one that's created after the grantor's death, usually under terms left in a last will. It's irrevocable because the gra...
Trust funds are designed to carry out the wishes of the grantor. This means that the trustee is in charge of managing the assets while they are still alive. After their passing, the trustee can pass on the assets to the beneficiary(s) as per the grantor's instructions, whether that's t...
The trust agreement outlines the purpose of the trust and how the trust assets are to be managed and distributed. The trust agreement also names the beneficiaries and explains how they will benefit from the trust. Trust funds can be established for a variety of purposes, such as providing for...
A trust fund is often used as an estate planning tool. It's used to minimize taxes andavoid probate, which is the legal process used to distribute the assets of a deceased person. While there are many specific types of trust funds, they fall into two main categories: ...
Trust vs trust funds A trust fund is generally synonymous with a trust. All trusts are funded — assets (money, real estate, and more) need to be transferred into the trust in order for it to work. The only slight difference is that a trust fund may not pay out all the money and ...
A trust beneficiary can hold either a vested interest or a contingent interest in assets held in a trust. The type of trust interest the beneficiary holds is dependent upon the terms the grantor put in place for the trust when it was created. There are many ways to structure a trust, ...
How do I choose the right mix of mutual funds? When should I drop a mutual fund from my portfolio? What’s the difference between a mutual fund and an ETF? Are Christian mutual funds legit? This article provides general guidelines about investing topics. Your situation may be unique. To ...
I have a friend who is twelve. She has had both a kidney and liver transplant and cannot get health insurance through any insurance company. There is a health program she can get into but the premiums are $2000 a month. Is there a way to setup a trust fund that people can contribute...
You are both wrong. There are many different kinds of trust funds, and reasons for them being set up. Not every child who has a trust fund comes from billion dollar families. Or lives off their parents' money and never works. My grandparents set up a trust fund for college when my par...
This article talks about the reason why I operate from cash funds only. With banks, there is just too much red tape. I don't like being told that I can't use my own money until they are ready to let me. I just don't trust them. What if the bank failed overnight and I lost ...