Trust Fund definition: Copy, customize, and use instantly
Introduction
The term "Trust Fund" refers to a legal arrangement in which a third party, known as the trustee, holds assets for the benefit of designated beneficiaries. Trust funds are commonly used to manage assets for various purposes, including family estates, charitable donations, or retirement savings.
Below are various examples of how "Trust Fund" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Trust Fund" for family estate planning
This definition ties "Trust Fund" to family estate planning.
"Trust Fund" means a financial arrangement in which assets are held by a trustee for the benefit of family members, with instructions for the distribution of assets upon the grantor's death.
Definition of "Trust Fund" for charitable purposes
This definition connects "Trust Fund" to charitable purposes.
"Trust Fund" refers to a fund established for charitable purposes, where the assets are managed by a trustee and distributed according to the terms set forth by the grantor for philanthropic causes.
Definition of "Trust Fund" for retirement accounts
This definition links "Trust Fund" to retirement accounts.
"Trust Fund" means a retirement account held by a trustee for the benefit of the account holder, where contributions and distributions are managed according to specific retirement goals.
Definition of "Trust Fund" for educational purposes
This definition applies "Trust Fund" to educational purposes.
"Trust Fund" refers to a financial arrangement in which assets are held by a trustee for the benefit of a student or educational institution, to cover tuition, fees, or other educational expenses.
Definition of "Trust Fund" for testamentary trusts
This definition ties "Trust Fund" to testamentary trusts.
"Trust Fund" means a trust created by a will, in which assets are transferred to a trustee after the death of the grantor, and distributed according to the terms specified in the will.
Definition of "Trust Fund" for asset protection
This definition connects "Trust Fund" to asset protection.
"Trust Fund" refers to a fund created for the purpose of protecting assets from creditors, in which the trustee manages the assets on behalf of the beneficiary, typically for their lifetime.
Definition of "Trust Fund" for living trusts
This definition links "Trust Fund" to living trusts.
"Trust Fund" means a trust created by the grantor during their lifetime, in which assets are managed by a trustee for the benefit of the grantor or designated beneficiaries.
Definition of "Trust Fund" for special needs trusts
This definition applies "Trust Fund" to special needs trusts.
"Trust Fund" refers to a fund established for the benefit of a person with special needs, managed by a trustee to ensure the beneficiary's financial security while preserving eligibility for government benefits.
Definition of "Trust Fund" for irrevocable trusts
This definition ties "Trust Fund" to irrevocable trusts.
"Trust Fund" means a trust where the terms cannot be modified or revoked by the grantor once it is established, and the assets are managed by the trustee for the beneficiaries.
Definition of "Trust Fund" for revocable trusts
This definition connects "Trust Fund" to revocable trusts.
"Trust Fund" refers to a trust where the grantor retains the ability to modify or revoke the terms at any time, with assets managed by a trustee for the benefit of designated beneficiaries.
Definition of "Trust Fund" for employee benefit plans
This definition links "Trust Fund" to employee benefit plans.
"Trust Fund" means a fund set up by an employer to hold contributions for the benefit of employees, typically used for retirement, healthcare, or other benefits.
Definition of "Trust Fund" for insurance trusts
This definition applies "Trust Fund" to insurance trusts.
"Trust Fund" refers to a trust established to hold life insurance policies, with the proceeds paid out to beneficiaries as specified by the terms of the trust.
Definition of "Trust Fund" for grantor trusts
This definition ties "Trust Fund" to grantor trusts.
"Trust Fund" means a trust where the grantor retains control over the assets and income for tax purposes, with the income being taxed to the grantor rather than the trust.
Definition of "Trust Fund" for dynasty trusts
This definition connects "Trust Fund" to dynasty trusts.
"Trust Fund" refers to a long-term trust designed to benefit multiple generations, with assets managed by a trustee for the benefit of descendants of the grantor.
Definition of "Trust Fund" for charitable remainder trusts
This definition links "Trust Fund" to charitable remainder trusts.
"Trust Fund" means a trust in which assets are held for the benefit of charitable organizations after the income has been paid to non-charitable beneficiaries for a specified period.
Definition of "Trust Fund" for charitable lead trusts
This definition applies "Trust Fund" to charitable lead trusts.
"Trust Fund" refers to a trust that pays income to a charitable organization for a specified period, with the remainder of the assets going to non-charitable beneficiaries after the period ends.
Definition of "Trust Fund" for tax-sheltered funds
This definition ties "Trust Fund" to tax-sheltered funds.
"Trust Fund" means a fund that is set up to hold assets in a manner that allows for tax advantages, typically including deferred taxation or tax-exempt status on earnings.
Definition of "Trust Fund" for family trusts
This definition connects "Trust Fund" to family trusts.
"Trust Fund" refers to a trust set up by a family for the benefit of its members, including provisions for asset distribution, management, and protection for future generations.
Definition of "Trust Fund" for probate avoidance
This definition links "Trust Fund" to probate avoidance.
"Trust Fund" means a trust designed to avoid the probate process, allowing assets to pass directly to beneficiaries upon the grantor's death without court intervention.
Definition of "Trust Fund" for holding assets
This definition applies "Trust Fund" to holding assets.
"Trust Fund" refers to a fund that holds and manages assets for a designated purpose, including real estate, stocks, bonds, or cash, for the benefit of the trust’s beneficiaries.
Definition of "Trust Fund" for managed trusts
This definition ties "Trust Fund" to managed trusts.
"Trust Fund" means a fund where a professional trustee or financial institution manages the assets for the benefit of the beneficiaries, ensuring proper administration and investment strategies.
Definition of "Trust Fund" for family business succession
This definition connects "Trust Fund" to family business succession.
"Trust Fund" refers to a trust used to transfer ownership of a family business to the next generation, with the assets managed by a trustee to ensure continuity of business operations.
Definition of "Trust Fund" for wealth management
This definition links "Trust Fund" to wealth management.
"Trust Fund" means a trust established to manage significant wealth, including investments, real estate, and other assets, with a focus on long-term preservation and growth.
Definition of "Trust Fund" for protection from creditors
This definition applies "Trust Fund" to creditor protection.
"Trust Fund" refers to a trust designed to protect assets from creditors, where the assets are held by a trustee for the benefit of the beneficiaries.
Definition of "Trust Fund" for insurance proceeds
This definition ties "Trust Fund" to insurance proceeds.
"Trust Fund" means a trust that holds insurance policy proceeds for the benefit of the policy's beneficiaries, providing financial security in the event of the policyholder’s death.
Definition of "Trust Fund" for asset liquidation
This definition connects "Trust Fund" to asset liquidation.
"Trust Fund" refers to a fund that holds assets, which may be liquidated or converted into cash to meet the needs of the beneficiaries, such as paying for medical expenses or educational costs.
Definition of "Trust Fund" for minor beneficiaries
This definition links "Trust Fund" to minor beneficiaries.
"Trust Fund" means a trust established for the benefit of minor children or other underage beneficiaries, where the trustee manages and distributes assets in their best interest until they reach adulthood.
Definition of "Trust Fund" for charitable gifts
This definition applies "Trust Fund" to charitable gifts.
"Trust Fund" refers to a trust that holds donations or gifts made to charitable organizations, with the assets managed by the trustee for the benefit of the designated cause.
Definition of "Trust Fund" for business creditors
This definition ties "Trust Fund" to business creditors.
"Trust Fund" means a trust set up to satisfy the claims of business creditors, where a trustee manages the assets to ensure equitable distribution among creditors.
Definition of "Trust Fund" for trust asset distribution
This definition connects "Trust Fund" to trust asset distribution.
"Trust Fund" refers to a fund that holds and eventually distributes assets to beneficiaries according to the terms of the trust agreement, with a trustee overseeing the process.
Definition of "Trust Fund" for tax planning
This definition links "Trust Fund" to tax planning.
"Trust Fund" means a trust established for the purpose of reducing tax liabilities for the grantor or beneficiaries, typically involving asset management strategies designed to minimize taxes.
Definition of "Trust Fund" for estate distribution
This definition applies "Trust Fund" to estate distribution.
"Trust Fund" refers to a trust established to manage and distribute the assets of an estate to beneficiaries, in accordance with the wishes of the deceased as outlined in their will or trust agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.