business trust definition
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Business Trust Law and Legal Definition Business Trust Law & Legal Definition. Business trust is a form of business organization which is similar to a corporation, in which investors receive transferable certificates of beneficial interest.n some states, a business trust is subject to the laws of trusts whereas in other states the laws of corporations or partnerships govern its existence.
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What is 'Insurance Trust' DEFINITION of 'Insurance Trust'. An irrevocable trust set up with a life insurance policy as the asset, allowing the grantor of the policy to exempt asset away from his or her taxable estate.
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Business Trust An unincorporated business organization created by a legal document, a declaration of trust, and used in place of a corporation or partnership for the transaction of various kinds of business with limited liability. business trust is considered a corporation for purposes of federal Income Tax and similarly under various state income tax laws.
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Simple Trusts Simple Trusts. A trust (except a grantor type trust) is a separate legal entity for federal tax purposes. A trust may be created during an individual's life (inter vivos) or at the time of his or her death under a will (testamentary). A trust figures its gross income in much the same manner as an individual.
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trust Definition of trust: Legal entity created by a party (the trustor) through which a second party (the trustee) holds the right to manage the trustor's assets or property for the benefit of a third party (the beneficiary). ...
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Types of Trusts An Asset Protection Trust is a type of trust that is designed to protect assets from the claims of creditors. There are two types of Asset Protection Trusts - a Domestic Asset Protection Trust (also known as an Onshore Trust or DAPT) and a Foreign Asset Protection Trust (also known as an Offshore Trust).
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Definition of a Living Trust A trust is an arrangement in which one or more people manage or take care of property for someone else's benefit. A living trust is a trust that is created during your lifetime. In other words, while you are still alive, you transfer title to your property from your name to that of the trustee of the living trust.
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What Is a Bank Trust Account? Most banks offer trust accounts as an optional service. In a trust account, a trustee controls funds for the benefit of another party-an individual or a group.The bank trust account is a useful way to convey and control assets on behalf of a third-party owner.hile handling a bank trust account, a trustee may make changes to the account. He may name another beneficiary or a successor trustee. He may close the account or open a sub-account to which he may transfer some or all of the assets.
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Living Trust Information A trust is an arrangement whereby property is managed by one person, called the trustee, for the benefit of another person, called the beneficiary. The trustee holds legal title to the property, and owes a fiduciary duty to the trustee.
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All You Need To Know About Trusts Trustee: the person, people, or entity (such as a bank) that agrees to hold the property or assets (the grantor may be the Trustee) Principal: the property or assets themselves, including money, which is held in the Trust and managed by the Trustee.
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The Use of Private Trust Companies Jersey. 1  the purpose of which is (i) solely to provide trust company business services in respect of a specific trust or trusts; or (ii) to act for that purpose and to act as a member of the council of a foundation or of foundations (otherwise than as a qualified member, as that term is defined by the Foundations (Jersey) Law 2009);
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Domain Trust A domain trust is a useful way to allow users from a trusted domain to access services in a trusting domain. If all users and services can be managed in a single enterprise domain, there is no need for trust relationships. However, there are several advantages to creating separate domains. Domains are a useful way to separate the scope of responsibility of the domain administrators.
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Trusts A trust is a legally binding arrangement for the ownership and management of money or property, by one person on behalf of another. Trusts are commonly used to preserve assets, for tax planning and to provide for children, disabled persons and charitable causes.
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How To Set Up A Trust Fund In The U.K. Once assigned to the trust, assets are no longer deemed personal possessions of the settlors, and are therefore safeguarded from creditors (even in cases of bankruptcy), financial setbacks, family disagreements and lawsuits. As such, trusts are a widely used ”safe haven” arrangement for family and business assets. Why Create a Trust?
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DEFINITION of 'Asset Protection Trust ' Asset Protection Trust. DEFINITION of 'Asset Protection Trust '. A vehicle for holding an individual's assets to shield them from creditors. Asset protection trusts allow, if it is difficult for a creditor to seize assets, settle with the debtor on favorable terms instead of engaging in costly litigation.
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What is a 'Trust Company' DEFINITION of 'Trust Company'. A legal entity that acts as fiduciary, agent or trustee on behalf of a person or business entity for the purpose of administration, management and the eventual transfer of assets to a beneficial party. legal entity that acts as fiduciary, agent or trustee on behalf of a person or business entity for the purpose of administration, management and the eventual transfer of assets to a beneficial party.
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Trust (business) This is unfortunate, for it is difficult to find a substitute for it. There may, of course, be illegal trusts; but a trust in and by itself is not illegal: when resorted to for a proper purpose, it has been for centuries enforced by courts of justice, and is, in fact, the creature of a court of equity.
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Trust (emotion) Trust (emotion) In a social context, trust has several connotations.[1] Definitions of trust[2][3] typically refer to a situation characterized by the following aspects: One party (trustor) is willing to rely on the actions of another party (trustee); the situation is directed to the future.
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DEFINITION of 'Trust Certificate' DEFINITION of 'Trust Certificate'. A bond or debt investment, usually in a public corporation, that is backed by other assets which serve a purpose similar to collateral. If the company experiences difficulty making payments, the assets may be seized or sold to help specific trust certificate holders recover a portion of their investment.
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trust an illegal combination of industrial or commercial companies in which the stock of the constituent companies is controlled by a central board of trustees, a group of people who have assumed the authority to supervise the affairs of the constituent companies, thus making it possible to manage the companies so as to minimize production costs, control ...
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What Is a Trust? What Is a Trust? A trust is traditionally used for minimizing estate taxes and can offer other benefits as part of a well-crafted estate plan. A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries.
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Trusts Law and Legal Definition Trusts Law & Legal Definition. A trust is the legal relationship between one person, the trustee, having an equitable ownership or management of certain property and another person, the beneficiary, owning the legal title to that property.rusts Law & Legal Definition. A trust is the legal relationship between one person, the trustee, having an equitable ownership or management of certain property and another person, the beneficiary, owning the legal title to that property.
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Definition of a Living Trust Definition of a Living Trust. A trust is an arrangement in which one or more people manage or take care of property for someone else's benefit. A living trust is a trust that is created during your lifetime. In other words, while you are still alive, you transfer title to your property from your name to that of the trustee of the living trust.
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Trust company Trust company. For other uses, see Trust company (disambiguation). A trust company is a corporation, especially a commercial bank, organized to perform the fiduciary of trusts and agencies. It is normally owned by one of three types of structures: an independent partnership, a bank, or a law firm, each of which specializes in being a trustee of various kinds of trusts and in managing estates.
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Business Banking Deposit and Treasury Solutions Business Banking Deposit and Treasury Solutions. Bankers Trust provides a broad range of Business Banking products and services, which includes a full array of Deposit and Treasury Solutions. We provide you with personal service to assist in your banking technology needs.
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- Pension trusts: The trust is a legal scheme whereby named people (“trustees”) hold property on. behalf of other people (“beneficiaries”). The trustees can be a board of people or a corporate trustee, which. acts in the exclusive interest of the pension members and beneficiaries. 4.