Trust Agreement Definition
Definition of irrevocable trust.
Trust agreement definition. Here is a description of what trust is. A trust which cannot be changed or canceled once it is set up without the consent of the beneficiary. Living trusts help distribute assets quickly and privately. Definition of a trust that can apply for recognition of exemption from federal income taxation under irc section 501a.
Formal agreement through which a trustor vests the ownership rights title to one or more assets to one or more trustees for conservation and protection on behalf of one or more beneficiaries of the trust. A hope is more than resolve and it is based on trust in a divine faithfulness that operates not only within history but also beyond history. Trust definition reliance on the integrity strength ability surety etc of a person or thing. Document that lays down the conditions or describes the event upon fulfillment of or occurrence of which the escrow agent delivers the asset or document held in trust by him or her to the named second party or beneficiary.