Your browser does not support JavaScript.
A blind trust is a trust established by an owner (or trustee) that gives another party (the trustee) full control of the trust. The trustee has control over the assets and investments, managing the assets and any income received in the trust. Blind trusts are often created when people want to avoid conflicts of interest between their work and investments. High-Net-Worth Individuals (HNWI)
September 25, 2022 A high net worth individual is a person with at least $1 million in liquid financial assets. A-B Trust
September 25, 2022 AB trust is a joint trust created by a married couple; after the death of one of the spouses, the trust is divided into the survivor’s part (Trust A) and the bypass part (Decedent’s Trust or Trust B). Account in Trust
September 25, 2022 Trust accounts are managed by a trustee on behalf of a third party. Agency by Necessity
September 25, 2022 The agency, if necessary, allows any person or entity to act on behalf of another person when the beneficiary cannot explicitly give permission to do so. Bare Trust
September 25, 2022 Naked trusts or “naked trusts” grant the beneficiary, if over 18 years of age, an absolute right to the capital, assets and income within the trust. Contingent Beneficiary
September 25, 2022 The notional beneficiary is the beneficiary of the proceeds or payment if the primary beneficiary is deceased or cannot be located. Declaration Of Trust
September 25, 2022 A declaration of trust or declaration of a nominee appoints a trustee to oversee the assets for the benefit of another person or persons. Distributable Net Income (DNI)
September 25, 2022 Distributable net income is the income distributed among the beneficiaries of the trust. Dynasty Trust
September 25, 2022 Dynasty trusts allow rich people to leave money to future generations without paying inheritance taxes. Endowment
September 25, 2022 Most donations are designed to keep the principal amount intact while using income from investments for charitable purposes. Engel's Law
September 25, 2022 Engel’s Law is a 19th-century observation that as household income increases, the percentage of that income spent on food decreases in relative terms. Escheat
September 25, 2022 Escheat refers to the government’s right to take possession of real estate or unclaimed property. Estate
September 25, 2022 Real estate is the economic evaluation of all investments, assets and interests of a person. Estate Tax
September 25, 2022 Inheritance tax is a financial levy on property based on the current value of its assets. Executor
September 25, 2022 An executor is a person who disposes of a person’s property after his death. Family Offices
September 25, 2022 Family offices provide a wide range of wealth management services to one or a small number of ultra-high income families. Fully Vested
September 25, 2022 A full transfer of rights occurs when the funds contributed by the other party become fully available to the beneficiary recipient. Generation-Skipping Trust
September 25, 2022 A generation skip trust (GST) is a legally binding arrangement whereby assets are passed on to the grantor’s grandchildren or anyone 37.5 years younger, bypassing the grantor’s next generation of children. Gift Causa Mortis
September 25, 2022 Gift causa mortis is when a person gives a gift to another because he believes that he will die soon. Gift Inter Vivos
September 25, 2022 A gift between the living in Latin means a gift between the living. Gift Letter
September 25, 2022 A gift letter is a piece of formal written correspondence that explicitly states that money received from a friend or relative is a gift. Gift in Trust
September 25, 2022 Trust gifts are commonly used to transfer wealth from one generation to the next by creating a trust fund. Goal-Based Investing
September 25, 2022 Purpose investing focuses on achieving life goals. Grantor Retained Annuity Trust (GRAT)
September 25, 2022 Annuity preservation trusts (GRAT) are estate planning instruments in which the grantor freezes assets in a trust from which they receive an annual income. Grantor Trust Rules
September 25, 2022 A trust trust is a trust in which the individual creating the trust is the owner of the assets and property for income and inheritance tax purposes.