BARE TRUST
A basic trust wherein the beneficiary holds the absolute right to the assets and capital within the trust, and also the income acquired from these assets. Bare trust is most used by grandparents and parents to pass assets to their grandchildren or children. Trust assets are named after the trustee, who hold the responsibility of managing the trust assets in a prudent way so as to gain the maximum benefit for its beneficiaries. The trustee do not have a control over the assets and has no discretion or say in directing the capital or income of the trust.
Also referred as simple trust.
POPULAR TERMS
Target Return
Pricing model used in valuing a business based on what an investor expects from any capital invested in the firm. It is computed by adding the amou ...
Remainder Man
An individual who receives the remaining principal in a trust account after all required payments have been made, such as those to the beneficiary ...
Average Collected Balance
The total average of the collected funds in a bank account in a month. The balance is calculated by adding the collected balance and dividing it by ...
Bankable Funds
Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typica ...
Prudent-Person Rule
A legal maxim that restricts the discretion in a client's account to investments that a prudent person seeking reasonable income and preservati ...
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