trust property
111Discretionary trust — Wills, trusts and estates …
11218 to 25 trust — England, Wales 18 to 25 trust Also known as a section 71D trust (section 71D trust). A trust for the benefit of a person aged under 25 who will become absolutely entitled to the whole of the trust property on or before his 25th birthday (section… …
11318-25 trust — England, Wales 18 to 25 trust Also known as a section 71D trust (section 71D trust). A trust for the benefit of a person aged under 25 who will become absolutely entitled to the whole of the trust property on or before his 25th birthday (section… …
114section 71D trust — England, Wales 18 to 25 trust Also known as a section 71D trust (section 71D trust). A trust for the benefit of a person aged under 25 who will become absolutely entitled to the whole of the trust property on or before his 25th birthday (section… …
115Qualified personal residence trust — The following article on personal residence trusts and qualified personal residence trusts is taken from attorney Jacob Stein s treatise on tax planning, with his permission. Residence trusts are used to transfer a grantor’s residence out of the… …
116Offshore trust — An offshore trust is simply a conventional trust that is formed under the laws of an offshore jurisdiction. Generally offshore trusts are similar in nature and effect to their onshore counterparts; they involve a settlor transferring (or settling …
117breach of trust — see breach 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. breach of trust …
118Irrevocable Income-Only Trust - IIOT — A type of living trust often used for Medicaid planning. It protects assets from being sold to pay for nursing home and other long term care expenses, so that the assets can be passed on to beneficiaries. Once assets are transferred into the… …
119settled property — for capital gains tax and inheritance tax purposes, property is property held on trust for persons in succession, or upon a contingency (e.g. the attainment by a beneficiary of a specified age) or where the income or capital is payable at the… …
120special needs trust — A trust designed to hold and disburse property for the benefit of an SSI recipient so that SSI and Medicaid won t consider the trust property or disbursements to be a resource or income. To accomplish this purpose, the trust typically gives the… …
