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[countable, uncountable] (legislation) an arrangement by which a corporation or a gaggle of people has legal Charge of cash or house which has been specified to any person, ordinarily until that individual reaches a specific age; an amount of money or residence that may be managed in this manner
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Qualified terminable fascination residence trust: This trust will allow anyone to immediate property to certain beneficiaries (their survivors) at distinctive instances. In the typical state of affairs, a husband or wife will receive lifelong revenue from your trust, and children can get what’s left once the husband or wife dies.
The disadvantages of trusts are they have to have time and expense to create, and they can not be effortlessly revoked.
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