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a trust that is able to be revoked, modified, or amended. Irrevocable trust. may not be revoked, modified, or amended. Living trust. a trust created during the client's lifetime. Study with Quizlet and memorize flashcards containing terms like Trust, Trustee, Grantor and more.
Study with Quizlet and memorise flashcards containing terms like What are the elements of the trust?, What is the basic trust concept?, What property rights does a trust give to the trustee? and others.
Study with Quizlet and memorize flashcards containing terms like Trust, Underhill and Hayton definition of a Trust, What does a Trust do? and more.
A trust or corporate trust is a large grouping of business interests with significant market power, which may be embodied as a corporation or as a group of corporations that cooperate with one another in various ways.
14 sty 2022 · A trust is designated as an irrevocable trust when the term “UAD,” or sometimes “U/A,” appears in the trust instrument. The designation tells an institution that the grantor and the trustee are two separate individuals, and that the trustee controls the assets that have been placed in the trust.
Study with Quizlet and memorize flashcards containing terms like How is a trust defined?, What are the three parties involved in a trust?, What does the settlor do? and more.
Trusts are the organization of several businesses in the same industry and by joining forces, the trust controls production and distribution of a product or service, thereby limiting competition. Monopolies are businesses that have total control over a sector of the economy, including prices.
