Irrevocable Trust
An irrevocable trust is a trust that once established, cannot be revoked, terminated, or changed in any way.
Irrevocable Trust
A trust that, once its setup, cannot be changed at all.
Notes:
This is to prevent fraudulent activities.
irrevocable trust
trust that cannot be revoked by the person creating it, except with approval of the beneficiary , as opposed to a revocable trust , in which the trust instrument can be modified or terminated at will.
Dictionary of Insurance Terms ...
IRREVOCABLE TRUST - a trust that cannot be annulled by the grantor, the person who originally set up th...
IRS - The federal agency responsible for administering and enforcing the Treasury Department's revenue ...
Irrevocable trust
An irrevocable trust is a legal agreement whose terms cannot be changed by the creator or grantor who establishes the trust without the consent of the beneficiary or beneficiaries.
Irrevocable Trust: A trust that cannot be altered, stopped, or canceled. During circumstances where the trustee cannot interpret or carry out their specific duties, the court is then asked to make legal determinations.
Irrevocable trust
A trust that is unable to be amended, altered, or revoked.
Issue
A particular financial asset.
Irrevocable Trust
A trust that can't be modified or terminated without the permission of the beneficiary. The grantor, having transferred assets into the trust, effectively removes all of his or her rights of ownership to the assets and the trust.
Irrevocable Trust and Revocable Living Trust Which Is More Suitable for the Reverse Mortgage
by Chris Beard ...
An irrevocable trust that is designed to pay trust income (and principal, if needed) to an individual's spouse for the duration of the spouse's lifetime.
An irrevocable trust that pays income to one or more individuals until the death of the grantor. At this time, the balance of the trust passes to a designated charity on a tax-free basis.
ChFC
See Chartered Financial Consultant.
An irrevocable trust that pays income to a designated person or persons until the grantor's death, when the income is passed on to a designated charity.
An irrevocable trust that becomes a revocable trust after a certain amount of time.
Revocable letter of credit ...
A: An irrevocable trust is a trust, which, by its terms, cannot be modified, amended, or revoked. For tax purposes an irrevocable trust can be treated as a simple, complex, or grantor trust, depending on the powers listed in the trust instrument.
A special form of irrevocable trust, usually created (settled) offshore for the principal purposes of preserving and protecting part of one's wealth offshore against creditors. Title to the asset is transferred to a person named the trustee.
Legal defeasance The deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to fully discharge its obligations under the bond indenture.
Charge offSee: Bad debt Charitable remainder trustAn irrevocable trust that pays income to a designated person or persons until the grantor's death, when the income is passed on to a designated charity.
Minor's trust (2503c trust): An irrevocable trust that enables a grantor to keep principal and income in a trust for the benefit of a child until the child reaches age 21. Principal and income can be expended for the beneficiary.
Defeasance is where a bond indenture contains a provision permitting the borrower to transfer cash into an irrevocable trusteed fund. The trustee must invest the money in low risk securities that match the term and interest flow of the bonds.
Revisionary trust
An irrevocable trust that becomes a revocable trust after a certain amount of time.
Revocable letter of credit
Assurance of funds issued by a bank that can be canceled at any time without prior notification to the beneficiary.
Generation-Skipping Trust - An irrevocable trust designed to benefit a grandchild or someone two or more generations following the grantor.
But because you haven't relinquished control over the assets, as you do when you transfer them to an irrevocable trust, they are still included in your estate.
If your estate may be vulnerable to these taxes, which are figured at a higher rate than income taxes, you may want to reduce its value by using a number of tax planning strategies, including making nontaxable gifts and creating irrevocable trusts.
Definition: [crh] The deposit of cash and permitted securities, as specified in the bond indenture, into an Definition: rrevocable+trust"irrevocable trust sufficient to enable the issuer to fully discharge its obligations under the ...
The trust specifies how money or property will be disbursed, it lists the recipients or beneficiaries, and names one or more trustees to manage the assets. An irrevocable trust cannot be changed after the terms are finalized; ...
A trust in which any of its provisions can be changed, or the trust itself can be canceled at any time by the grantor. The grantor receives income from the assets. This contrasts with an irrevocable trust in which the trust cannot be amended or ...
In an advanced refunding, the net proceeds of the refunding issue are used to purchase U.S. Government securities that are placed in irrevocable trusts with escrow agents to provide for all future debt service payments on the refunded bonds until ...
A properly written investment policy statement can be critical in minimizing the legal liability of those serving in a fiduciary capacity (e.g., qualified plan trustees and trustees of irrevocable trusts, endowments, ...
A living trust, operates while you are alive. A testamentary trust goes into effect after your death. Provisions in a revocable trust can be changed or revoked; an irrevocable trust can't be materially altered.
If you die, the balance of the savings and the death benefit is then passed onto your named beneficiary, which ideally will be an irrevocable trust.
revisionary trust Irrevocable trust that becomes a revocable trust after a specified period of... revocable trust A trust that may be altered or terminated during the grantor's lifetime. Since...
 See also: Revocable trust, LIBOR, Debt service, Limit Order, Liquidity ratio
  
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