   
|
|
|
|
|
|
| |
A revocable trust is a trust that can be changed or terminated at any time by the grantor (the creator of the trust) during the grantor's lifetime. A revocable trust is sometimes called a living trust. The grantor has the right to reclaim or revoke the property placed in a revocable trust, add assets to the corpus of the revocable trust, or even change the beneficiary(ies), among other changes/alterations. For example, the grantor of a revocable trust may adjust the provisions of the trust and earn income. A revocable trust is considered part of the grantor's estate, due to its changeability, and is therefore subject to taxation: trust income from a revocable trust must be included in the grantor's tax return as if the trust didn't exist. Upon the grantor's death, the revocable trust's assets are transfered to the beneficiary(ies) - without being subjected to probate - and the revocable trust then becomes irrevocable. Unlike a revocable trust, an irrecovable trust offers tax advantages.
Rate this revocable trust definition...
|
|
|
|
 |
Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day. |
|
Popular Terms: in escrow, stock split, deferred revenue, implied volatility, cancelled check, FICO score, wholly-owned subsidiary, required rate of return, phantom income, 401a, risk management, average price per share, annual return, margin rate, 144a, ex-dividend, 1031 exchange, ex-dividend date, class C shares, covered put, liquidity ratio, retained earnings, debt service coverage, VIX, current ratio, open position, diluted share, option premium, balance sheet, limit order, deferred tax, inflation, reverse mortgage, 1035 exchange, FTSE, LIBOR, per diem, dividends payable, stock market close, irrevocable trust, Key Rate Duration, APR, real GDP, EBITDA, minority interest, labor relations, Zero Cost Collar, quality assurance, command economy
|
|
| |
