a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee,
the right to hold title to property or assets for the benefit of a third party, the beneficiary

a person or firm that holds and administers property or assets for the benefit of a third party

a type of living trust in which the grantor and beneficiary have no control over or knowledge of the assets in
the trust or how they’re being managed

an unincorporated mutual fund structure that allows funds to hold assets and provide profits that go straight to
individual unit owners instead of reinvesting them back into the fund

a trust that cannot be rescinded, amended, or modified, post creation

assets that have been placed into a fiduciary relationship between a trustor and trustee for a designated beneficiary

any type of financial account that is opened by an individual and managed by a designated trustee for the benefit of a
third party in accordance with agreed-upon terms

a financial instrument used in estate planning to minimize taxes on large financial gifts to family members

A person or family with liquid assets above a certain figure