Experienced personal residence trust: An irrevocable trust by which you transfer a dwelling to your heirs but get to reside in it for your specified period first.
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A trust can be employed to find out how a person’s dollars should be managed and distributed though that man or woman is alive or soon after death. A trust can help an estate stay away from taxes and probate. It could safeguard belongings from creditors and dictate the terms of inheritance for beneficiaries.
[countable, uncountable] (legislation) an arrangement by which an organization or a bunch of individuals has authorized control of revenue or property which has been presented to somebody, usually till that individual reaches a certain age; an amount of cash or assets that may be managed in this way
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