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One possible legal summary of a position of trust is a paid or volunteer position with one or more of the following responsibilities: access to vulnerable populations, property access, financial/fiduciary duty or executive positions. [1] According to one common definition, it is any position that has responsibility for "cash, keys, or kids ...
The designation, BC-HIS (Board Certified in Hearing Instrument Sciences), distinguishes the Board Certificant's outstanding skills and professional expertise needed for completion of the National Competency Exam.
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
In the trust law of England, Australia, Canada, and other common law jurisdictions, a discretionary trust is a trust where the beneficiaries and their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. It is sometimes referred to as a family trust in
The trust cannot be canceled without the approval of all beneficiaries and the grantor: If a trust must be canceled, it requires the approval of all the beneficiaries and the grantor, potentially ...
Irrevocable trust: In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust have been completed. Although in rare cases, a court may change the terms of the trust due to unexpected changes in circumstances that make the trust uneconomical ...
Estate planning isn't exactly the sort of thing most people like to think about over their morning coffee. Pondering your mortality -- not to mention what will happen to your assets and property ...
FBO is an abbreviation for the common term “for the benefit of” and it is often used in estate planning. In a trust, the term conveys ownership and value to the trustee. The FBO legal language ...