Search results
Results from the WOW.Com Content Network
Type of Trust Definition and Purpose Tax Benefits Revocable A trust that can be modified or dissolved without the permission of the beneficiary. During the life of the trust, income from the corpus is distributed to the grantor. Transfer of assets to beneficiaries only occurs at the time of the grantor's death.
A form of government where the monarch is elected, a modern example being the King of Cambodia, who is chosen by the Royal Council of the Throne; Vatican City is also often considered a modern elective monarchy. Self-proclaimed monarchy: A form of government where the monarch claims a monarch title without a nexus to the previous monarch dynasty.
This debt mainly represents obligations to Social Security recipients and retired federal government employees, including military. In the United States, intragovernmental holdings are primarily composed of the Medicare trust funds, the Social Security Trust Fund, and Federal Financing Bank securities. A small amount of marketable securities ...
The grantor can set up the trust, so the money distributes directly to the beneficiaries free and clear of limitations. The trustee can transfer real estate to the beneficiary by having a new deed ...
It is a form of fiat creation of money, in which the government obtains finance not by creating it de novo, but by borrowing it. The money created is in the form of treasury securities or securities borrowed from the central bank. These may be traded but will only rarely be spent on goods and services.
Government debt is built up by borrowing when expenditure exceeds revenue, so government debt generally creates an intergenerational transfer. This is because the beneficiaries of the government's expenditure on goods and services when the debt is created typically differ from the individuals responsible for repaying the debt in the future.
A Totten trust (also referred to as a "Payable on Death" account) is a form of trust in the United States in which one party (the settlor or "grantor" of the trust) places money in a bank account or security with instructions that upon the settlor's death, whatever is in that account will pass to a named beneficiary. For example, a Totten trust ...
The FDIC is an independent government agency charged with maintaining stability and public confidence in the U.S. financial system and providing insurance on consumer deposit accounts.