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t. e. United States trust law is the body of law that regulates the legal instrument for holding wealth known as a trust. Most of the law regulating the creation and administration of trusts in the United States is now statutory at the state level. In August 2004, the National Conference of Commissioners on Uniform State Laws created the first ...
Contents. Trust (law) For the monopolistic business, see Trust (business). For other uses of the word "trust", see Trust (disambiguation). A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person.
Interest on Lawyers' Trust Accounts (IOLTA) [1] is a method of raising money for charitable purposes, primarily the provision of civil legal services to indigent persons, through the use of interest earned on certain lawyer trust accounts. [2] The establishment of IOLTA in the United States followed changes to federal banking laws [3] passed by ...
A charitable remainder unitrust (known as a "CRUT") is an irrevocable trust created under the authority of the United States Internal Revenue Code § 664 [1] ("Code"). This special, irrevocable trust has two primary characteristics: (1) Once established, the CRUT distributes a fixed percentage of the value of its assets (on an annual or more frequent basis) to a non-charitable beneficiary ...
www.sbafla.com. The statutory and fiduciary mandate of the State Board of Administration of Florida (SBA) is to invest, manage and safeguard assets of the Florida Retirement System (FRS) Trust Fund as well as the assets of a variety of other funds. The SBA manages 25 different investment funds and trust clients.
A Massachusetts Business Trust (MBT) is a legal trust set up for the purposes of business, but not necessarily one that is operated in the Commonwealth of Massachusetts. The name comes from the first legally recognized business trusts being created in Massachusetts. [1][2] They may also be referred to as an unincorporated business organization ...
A position of trust is any position that requires its holder to enjoy the trust of those who elected or chose the holder. It is often used in a more restricted sense defined by an organization or by legislation. One possible legal summary of a position of trust is a paid or volunteer position with one or more of the following responsibilities ...
Custodial account. (Redirected from Custodial Account) A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]