Aliving trust, also called aninter-vivos trust, is a written document in which an individual's assets are provided as a trust for the individual's use and benefit during their lifetime. A trustee is named when the trust is established; this person is in charge of handling the affairs of...
(Note: As a Medicaid applicant, you cannot be the designated trustee.) Name the state where you’ll be receiving long-term care as the beneficiary of the trust. Once the trust is set up, monthly deposits will be made into the trust. Only pension funds, Social Security payments and ...
What is a venture capital fund? What is a debt investment? What is a mutual fund? What is a venture capital firm? What is an adjunct account? What is a nonprofit organization? What is debt financing? What is venture debt financing?
While the beneficiary is alive, the trustee of the trust may make discretionary distributions from the trust to meet the beneficiary's "supplemental needs," such as education expenses, a vacation, or hobbies; but, generally, not for food or shelter, which would typically be provided for by Su...
The deed of trust allows a lender to have recourse if there is a default on a loan payment. It involves three parties – the grantor, the beneficiary and the trustee. Grantor: The entity whose assets are held in trust until payment of the loan occurs. A grantor is also known as a set...
What is a temp agency? What agency sets the interest rate on loans? What is an agency law in real estate? What is debtor's journal? What is a nonprofit organization? What is an underwriting company? What is a revolving credit facility?
WHAT IS A TRUST ATrustis an agreement in which property which is owned by one party - theSettlor- is held by another party - theTrustee- for the benefit of third party - thenBeneficiary. AnAppointoris the person who has the legal right to appoint a new Trustee or remove an existing Tru...
What is an ESOP trustee? An ESOP trustee manages and controls the ESOP and has afiduciaryduty to the plan’s participants—the employees. It’s an important role. The person or group may be responsible for things like conducting annual appraisals and deciding the value of shares based on the...
→ Learn about the difference between a beneficiary and trustee Pooled special needs trust Pooled trusts, sometimes called community trusts, are run by nonprofit organizations that invest funds from multiple families (or other sources) in order to support multiple beneficiaries. A pooled trust may ...
A special needs child is a youth who has been determined to require specific care, attention, and accommodations that other children do not. The state may declare this status for the purpose of offering benefits and assistance for the child’s well-being and growth. Special needs can also be...