- revocable trust
-
revocable trust see trust
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- revocable trust
-
A trust that the grantor may change or revoke.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
revocable trust
Look at other dictionaries:
Revocable Trust — A trust whereby provisions can be altered or canceled dependent on the grantor. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries. Also referred to as a… … Investment dictionary
revocable trust — A trust that may altered as many times as desired in which income producing property passes directly to the beneficiaries at the time of the grantor s death. Since the arrangement can be altered at any time, the assets are considered part of the… … Financial and business terms
revocable trust — /ˌrevəkəb(ə)l trʌst/ noun a trust which can be changed or revoked … Dictionary of banking and finance
trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… … Law dictionary
Trust (Recht) — Ein Trust ist im juristischen Sinn eine von einer Person unter Lebenden[1] oder für den Todesfall[2] geschaffenen Rechtsbeziehung,[3] wenn Vermögen zugunsten eines Begünstigten oder für einen bestimmten Zweck abgesondert und der gebundenen… … Deutsch Wikipedia
trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… … Black's law dictionary
Trust law — In common law legal systems, a trust is an arrangement whereby property (including real, tangible and intangible) is managed by one person (or persons, or organizations) for the benefit of another. A trust is created by a settlor, who entrusts… … Wikipedia
Trust company — A trust company is a corporation, especially a commercial bank, organized to perform the fiduciary functions 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… … Wikipedia
revocable — Susceptible of being revoked, withdrawn or cancelled; e.g. revocable letter of credit @ revocable credit A credit which can be withdrawn or cancelled before its expiration date and without the consent of the person in whose favor it was drawn.… … Black's law dictionary
revocable living trust — A trust set up during life that can be revoked at any time before death. Revocable living trusts are a common and excellent way to avoid the cost and hassle of probate, because the property held in the trust during life passes directly to the… … Law dictionary
