Trust Property


DEFINITION of 'Trust Property'

Assets that have been placed into a fiduciary relationship between a trustor and trustee for a beneficiary. Trust property may include any type of asset, such as cash, securities, real estate or life insurance policies.

Also be called "trust assets", "principal" or "trust corpus".

BREAKING DOWN 'Trust Property'

Trusts are an estate planning tool used to facilitate the transfer of assets and to reduce tax liability. Some trusts can also protect assets in the event of a bankruptcy or lawsuit. Trusts help to preserve the full value of assets and ensure that those assets are distributed to their intended recipients. The trustee is required to manage the trust property in accordance with the trustor's wishes, the beneficiary's best interests and the rules of the specific type of trust that has been established.

  1. Naked Trust

    A straightforward type of trust into which a trustor transfers ...
  2. Trust

    A fiduciary relationship in which one party, known as a trustor, ...
  3. Incentive Trust

    A legally binding fiduciary relationship in which the trustee ...
  4. Irrevocable Trust

    A trust that can't be modified or terminated without the permission ...
  5. Revocable Trust

    A trust whereby provisions can be altered or canceled dependent ...
  6. Taxes

    An involuntary fee levied on corporations or individuals that ...
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  1. Are estate planning fees tax deductible?

    Estate planning fees may be tax deductible, but only if certain conditions have been met. Internal Revenue Service (IRS) ... Read Full Answer >>
  2. Can personal loans be included in bankruptcy?

    Personal loans from friends, family and employers fall under common categories of debt that can be discharged in the case ... Read Full Answer >>
  3. How much money does Texas make from unclaimed property each year?

    In 2014, the office of the Texas Comptroller of Public Accounts reported $234 million in unclaimed property claimant liabilities, ... Read Full Answer >>
  4. How much money does Michigan make from unclaimed property each year?

    According to the 2013-2014 Annual Report of the State Treasurer, the state of Michigan earned only $82,875 in abandoned and ... Read Full Answer >>
  5. Who decides if a financial security should be escheated?

    There is no one entity who "decides" to escheat assets. Rather, financial institutions are required to report inactive accounts ... Read Full Answer >>
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    529 ABLE plans, also known as 529A plans, are state-sponsored accounts authorized by Congress that allow people with disabilities ... Read Full Answer >>

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