Home
E-Mail
Latest

Trust Financial Glossary

What is it? A legal arrangement whereby control over property is transferred to a person or organization (the trustee) for the benefit of someone else (the beneficiary). Trusts are created for a variety of reasons, including tax savings and improved asset management.

Finance Term Definition Added By: Hailey

The Trust definition has been viewed 2629 Time(s)!




Send To Friends!

If you'd like to send the Trust definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -





We hope you now understand the meaning of Trust. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Finance Terms:

Financial Term P & I is Principal and interest as in the principal and interest required for periodic loan repayments.

Financial Term Shell is A company with no real assets or operations.

Financial Term Second Mortgage is The second-priority claim against a property in the event that the borrower defaults on the loan. A riskier form of lending since the lender who holds the second mortgage gets paid only after the lender holding the first mortgage is paid.

Financial Term prior service costs is Costs that arise from amendments to defined benefit pension plans that retroactively increase benefits. In rare cases, retroactive amendments that decrease benefits can create negative prior service costs. Under FAS 87 rules, these costs are not added to the minimum pension liability reported on the balance sheets for sponsors of underfunded defined benefit pension plans. Instead, the costs are amortized over the projected remaining service lives for the employees expected to receive benefits. The amortization increases the reported benefit expense of the sponsoring firm. The unamortized portion of this off-balance sheet liability is disclosed as unrecognized prior service costs in a footnote to the financial statements.

Financial Term departure provision is A specific provision in the USPAP rules for real estate appraisals. The departure provision states that An appraiser may enter into an agreement to perform an assignment that calls for something less than, or different from, the work that would otherwise be required by the specific guidelines. An appraisal conducted under the departure provision is called a limited appraisal.