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A trust is a relationship whereby property is held by one party for the benefit of another. [1]

147 relations: Accounting, Act (document), Ancient Rome, Argentine law, Articles of Incorporation, Asset protection, Australian trust law, Bankruptcy remote, Barclays Bank Ltd v Quistclose Investments Ltd, Bare trust, Beneficiary (trust), Blind trust, Brussels Regime, Bundle of rights, Capacity (law), Capital (economics), Capital requirement, Case law, Cestui que, Charitable trust, Charity Commission for England and Wales, Civil code, Civil law (legal system), Common law, Commonwealth, Company, Competition law, Concurrent estate, Conflict of interest, Conflict of laws, Construction law, Constructive trust, Continental Europe, Contract, Contractual term, Convention of disclosure, Corporation, Court, Crusades, Curaçao, Deed, Directors and officers liability insurance, Discretionary trust, Dodd–Frank Wall Street Reform and Consumer Protection Act, Duty of loyalty, Duty of Prudence, English law, English trust law, Equity, Equity (law), ..., Estate planning, Estate tax in the United States, Express trust, Feoffee, Feudalism, Fideicommissum, Fiduciary, Foundation (nonprofit), Gift tax, Grantor retained annuity trust, Hague Trust Convention, Henson trust, Holding company, Implied trust, Incentive trust, Income, Inheritance Tax (United Kingdom), Insurance, Intangible property, Internal Revenue Code, Internal Revenue Service, Intestacy, Investment fund, Italian trust law, Jurisdiction, Knight v Knight, Law of South Africa, Legal fiction, Legal personality, Life estate, Lord Chancellor, Massachusetts business trust, McPhail v Doulton, Natural person, Offshore financial centre, Offshore trust, Openness, Ownership, Pension, Personal injury trust, Personal property, Power of appointment, Probate, Profit (accounting), Property, Property law, Protector (trust), Purpose trust, QTIP Trust, Rabbi trust, Re Baden's Deed Trusts (No 2), Real property, Records management, Remainder (law), Residency (domicile), Restatements of the Law, Resulting trust, Roman law, Roman-Dutch law, Roy Goode, Secret trust, Securitization, Self-dealing, Settlor, Sharia, Society of Trust and Estate Practitioners, South Africa, SPA Trust, Spendthrift, Spendthrift trust, State government, Statute of frauds, Statutory corporation, Surety bond, T Choithram International SA v Pagarani, Tangible property, Tax, Tax avoidance, Tax haven, Tax noncompliance, Testamentary trust, Title (property), Totten trust, Transparency (behavior), Trust (business), Trust instrument, Trust law, Trust law in civil law jurisdictions, Trust-preferred security, Trustee, Trusts & Estates (journal), Uniform Trust Code, Unit trust, United States, Waiver, Waqf, Will and testament. Expand index (97 more) »

Accounting or Accountancy is the measurement, processing and communication of financial information about economic entities.

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An act is an instrument that records a fact or something that has been said, done, or agreed.

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Ancient Rome was an Italic civilization that began on the Italian Peninsula as early as the 8th century BC.

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The Legal system of Argentina is a Civil law legal system.

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The "Articles of Incorporation" (sometimes also referred to as the Certificate of Incorporation or the Corporate Charter) are the primary rules governing the management of a corporation in the United States and Canada, and are filed with a state or other regulatory agency.

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Asset protection (sometimes also referred to as debtor-creditor law) is a set of legal techniques and a body of statutory and common law dealing with protecting assets of individuals and business entities from civil money judgments.

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Australian trust law is the law of trusts as it is applied in Australia.

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A bankruptcy remote company is a company within a corporate group whose bankruptcy has as little economic impact as possible on other entities within the group.

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Barclays Bank Ltd v Quistclose Investments Ltd (sub nom Quistclose Investments Ltd v Rolls Razor Ltd) is a leading property, unjust enrichment and trusts case, which invented a new species of proprietary interest in English law.

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A bare trust (sometimes referred to as a simple trust or mandatory trust) is a trust in which the beneficiary has a right to both income and capital and may call for both to be remitted into his own name.

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In trust law, a beneficiary or cestui que use, a.k.a. cestui que trust, is the person or persons who are entitled to the benefit of any trust arrangement.

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A blind trust is a trust in which the fiduciaries, namely the trustees or those who have been given power of attorney, have full discretion over the assets, and the trust beneficiaries have no knowledge of the holdings of the trust and no right to intervene in their handling.

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The Brussels Regime is a set of rules regulating which courts have jurisdiction in legal disputes of a civil or commercial nature between individuals resident in different member states of the European Union (EU) and the European Free Trade Association (EFTA).

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The bundle of rights is a common way to explain the complexities of property ownership.

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The capacity of natural and juridical persons, and legal persons in general, determines whether they may make binding amendments to their rights, duties and obligations, such as getting married or merging, entering into contracts, making gifts, or writing a valid will.

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Capital is the result of productive human action not immediately consumed but directly employed in the pursuit of additional goods.

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Capital requirement (also known as regulatory capital or capital adequacy) is the amount of capital a bank or other financial institution has to hold as required by its financial regulator.

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Case law is the set of existing rulings which made new interpretations of law and, therefore, can be cited as precedents.

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Cestui que, also cestuy que, is a shortened version of cestui a que use le feoffment fuit fait, literally, "The person for whose use the feoffment was made." It is a Law French phrase of medieval English invention, which appears in the legal phrases cestui que trust, cestui que use, or cestui que vie.

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A charitable trust is an irrevocable trust established for charitable purposes, and is a more specific term than "charitable organization".

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The Charity Commission for England and Wales is the non-ministerial government department that regulates registered charities in England and Wales.

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A civil code is a systematic collection of laws designed to comprehensively deal with the core areas of private law such as for dealing with business and negligence lawsuits and practices.

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Civil law, civilian law or Roman law is a legal system originating in Europe, intellectualized within the framework of late Roman law, and whose most prevalent feature is that its core principles are codified into a referable system which serves as the primary source of law.

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Common law (also known as case law or precedent) is law developed by judges through decisions of courts and similar tribunals that decide individual cases, as opposed to statutes adopted through the legislative process or regulations issued by the executive branch.

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Commonwealth is a traditional English term for a political community founded for the common good.

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A company is an association or collection of individuals, whether natural persons, legal persons, or a mixture of both.

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Competition law is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies.

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A concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than one person at a time.

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A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial interest, or otherwise, one of which could possibly corrupt the motivation of the individual or organization.

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Conflict of laws or Private international law (both terms are used interchangeably) concerns relations across different legal jurisdictions between persons, and sometimes also companies, corporations and other legal entities.

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Construction law is a branch of law that deals with matters relating to building construction, engineering and related fields.

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A constructive trust is an equitable remedy resembling a trust (implied trust) imposed by a court to benefit a party that has been wrongfully deprived of its rights due to either a person obtaining or holding legal right to property which they should not possess due to unjust enrichment or interference.

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Continental Europe, also referred to as mainland Europe or simply the Continent (particularly by Britons, Azores and Madeira Portuguese, Balearic and Canary Spaniards, Icelanders and other European island nations, and peninsular Scandinavians), is the continent of Europe, explicitly excluding the islands of Europe.

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In law, a contract (or informally known as an agreement in some jurisdictions) is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them.

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A contractual term is "Any provision forming part of a contract".

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The convention of disclosure requires that all material facts must be disclosed in the financial statements.

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A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.

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A court is a tribunal, often as governmental institution, with the authority to adjudicate legal disputes between parties and carry out the administration of justice in civil, criminal, and administrative matters in accordance with the rule of law.

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The Crusades were military campaigns sanctioned by the Catholic Church in the Middle Ages.

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Curaçao (or; Curaçao; Papiamentu: Kòrsou) is an island country in the southern Caribbean Sea, approximately north of the Venezuelan coast, that is a constituent country (land) of the Kingdom of the Netherlands.

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A deed (anciently an evidence) is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions sealed.

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Directors and officers liability Insurance (often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defence costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.

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A discretionary trust in Canadian and English trusts law is a trust where the beneficiaries and/or their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor.

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The Dodd–Frank Wall Street Reform and Consumer Protection Act (commonly referred to as Dodd-Frank) was signed into federal law by President Barack Obama on July 21, 2010, at the Ronald Reagan Building in Washington, DC.

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The Duty of Loyalty is often called the cardinal principal of fiduciary relationships, but is particularly strict in the law of trusts.

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In Trust Law, the Duty of Prudence traditionally includes the duty of a trustee to administer a trust with a degree of care, skill and caution.

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English law means the legal system of England and Wales.

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English trust law concerns the creation and protection of asset funds, which are usually held by one person for someone else's benefit.

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Equity may refer to.

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In jurisdictions following the English common law, equity is the set of maxims that "reign over all the law" and "from which flow all civil laws".

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Estate planning is the process of anticipating and arranging for the disposal of an estate during a person's life.

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The estate tax in the United States is a tax on the transfer of the estate of a deceased person.

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Where property is passed from an owner to a person an implied express trust, but no gift is made by the owner to that person, it is therefore held for the owner by the person, and this is the Resulting trust; where property should for some reason of public policy or rule of Equity be held by a person for someone other than the legal owner, this is either the Statutory trust or the Constructive trust; but where legal title to property is held by someone 'on trust', this is the Express trust.

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A feoffee is a trustee who holds a fief (or "fee"), that is to say an estate in land, for the use of a beneficial owner.

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Feudalism was a combination of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries.

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The fideicommissum was one of the most popular legal institutions in Roman Law for several centuries.

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A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons).

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A foundation (also a charitable foundation) is a legal categorization of nonprofit organizations that will typically either donate funds and support to other organizations, or provide the source of funding for its own charitable purposes.

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In economics, a gift tax is the tax on money or property that one living person gives to another.

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A grantor retained annuity trust (commonly referred to by the acronym GRAT), is a financial instrument commonly used in the United States to make large financial gifts to family members without paying a U.S. gift tax.

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The Hague Convention on the Law Applicable to Trusts and on their Recognition, or Hague Trust Convention is a multilateral treaty developed by the Hague Conference on Private International Law on the Law Applicable to Trusts.

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A Henson trust (sometimes called an absolute discretionary trust), in Canadian law, is a type of trust designed to benefit disabled persons.

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A holding company is a company that owns other companies' outstanding stock.

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An implied trust is an element of trust law, and refers to a trust that has not been "expressly created by the settlor." There are two types of implied trust.

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In American estate planning parlance, an incentive trust is a trust designed to encourage or discourage certain behaviors by using distributions of trust income or principal as an incentive.

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Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.

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In the United Kingdom, Inheritance Tax is a transfer tax.

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Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for money.

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Intangible property, also known as incorporeal property, describes something which a person or corporation can have ownership of and can transfer ownership of to another person or corporation, but has no physical substance.

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The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC).

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The Internal Revenue Service (IRS) is the revenue service of the United States federal government.

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Intestacy is the condition of the estate of a person who dies owning property whose value is greater than the sum of their enforceable debts and funeral expenses without having made a valid will or other binding declaration.

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An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group.

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A trust is a particular juridical instrument by which a settler (disponente) can transfer a property (movable or immovable property) to a “trustee” who has to exercise and manage this right for a “beneficiary” (to whom the full property will be transferred with the termination of the trust) who has the “equitable right”.

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Jurisdiction (from the Latin ius, iuris meaning "law" and dicere meaning "to speak") is the practical authority to interpret and apply the law, or to govern and legislate.

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Knight v Knight (1840) 49 ER 58 is an English trusts law case, embodying a simple statement of the "three certainties" principle.

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South Africa has a 'hybrid' or 'mixed' legal system, formed by the interweaving of a number of distinct legal traditions: a civil law system inherited from the Dutch, a common law system inherited from the British, and a customary law system inherited from indigenous Africans (often termed African Customary Law, of which there are many variations depending on the tribal origin).

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A legal fiction is a fact assumed or created by courts which is then used in order to apply a legal rule which was not necessarily designed to be used in that way.

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To have legal personality means to be capable of having legal rights and obligations within a certain legal system, such as entering into contracts, suing, and being sued.

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In common law and statutory law, a life estate is the ownership of land for the duration of a person's life.

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The Lord Chancellor, formally the Lord High Chancellor of Great Britain, is a senior and important functionary in the government of the United Kingdom.

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A Massachusetts Business Trust (MBT) is a legal trust set up for the purposes of business, but not necessarily one that is operated in the Commonwealth of Massachusetts.

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McPhail v Doulton, is a leading English trusts law case by the House of Lords on the certainty of beneficiaries.

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In jurisprudence, a natural person is a real human being, as opposed to a legal person, which may be a private (i.e., business entity or non-governmental organization) or public (i.e., government) organization.

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An offshore financial centre (OFC), though not precisely defined, is usually a small, low-tax jurisdiction specializing in providing corporate and commercial services to non-resident offshore companies, and for the investment of offshore funds.

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An offshore trust is simply a conventional trust that is formed under the laws of an offshore jurisdiction.

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Openness is an overarching concept or philosophy that is characterized by an emphasis on transparency and free, unrestricted access to knowledge and information, as well as collaborative or cooperative management and decision-making rather than a central authority.

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Ownership of property may be private, collective, or common, and the property may be of objects, land/real estate or intellectual property.

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A pension is a fixed sum to be paid regularly to a person, typically following retirement from service.

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The expression personal injury trust is a legal term of art found in the context of the modern English law of trusts (also applicable, where relevant, to Wales, Scotland and Northern Ireland).

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Personal property is generally considered property that is movable, as opposed to real property or real estate.

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A power of appointment is a term most frequently used in the law of wills to describe the ability of the testator (the person writing the will) to select a person who will be given the authority to dispose of certain property under the will.

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Probate is a legal document.

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Profit is an income distributed to the owner in a profitable market production process (business).

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In the abstract, property is that which belongs to or with something, whether as an attribute or as a component of said thing.

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Property law is the area of law that governs the various forms of ownership and tenancy in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system.

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In trust law, a protector is a person appointed under the trust instrument to direct or restrain the trustees in relation to their administration of the trust.

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A purpose trust is a type of trust which has no beneficiaries, but instead exists for advancing some non-charitable purpose of some kind.

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QTIP trust is a type of trust and an estate planning tool used in the United States.

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In the United States a Rabbi trust is a type of trust used by businesses or other entities to defer the taxability to the person or entity receiving (the payee) such payments as employee compensation or purchase payments in the acquisition of another business.

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Re Baden’s Deed Trusts (No 2) is an English trusts law case, concerning the circumstances under which a trust will be held to be uncertain.

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In English common law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it have been made by human efforts: buildings, machinery, wells, dams, ponds, mines, canals, roads, etc.

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Records management (RM), also known as records and information management or RIM, is the professional practice of managing the records of an organization throughout their life cycle, from the time they are created to their eventual disposal.

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A remainder in property law of the United Kingdom and the United States is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument.

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Residency is the act of establishing or maintaining a residence in a given place.

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In American jurisprudence, the Restatements of the Law are a set of treatises on legal subjects that seek to inform judges and lawyers about general principles of common law.

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A resulting trust (from the Latin 'resultare' meaning 'to jump back') is the creation of an implied trust by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to have held the property for benefit of another person.

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Roman law is the legal system of ancient Rome, including Roman Military Jurisdiction and the legal developments spanning over a thousand years of jurisprudence, from the 12 Tables (c. 449 BC), to the Corpus Juris Civilis (AD 529) ordered by Eastern Roman emperor Justinian I. The historical importance of Roman defication is reflected by the continued use of Latin legal terminology in legal systems influenced by it.

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Roman-Dutch law (Dutch: Rooms-Hollands recht, Afrikaans: Romeins-Hollandse reg) is an uncodified, scholarship-driven, judge-made legal system based on Roman law as applied in the Netherlands in the 17th and 18th centuries.

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Sir Royston Miles "Roy" Goode CBE QC (born 6 April 1933) is an academic commercial lawyer in the United Kingdom.

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A secret trust is a trust which arises when property is left to a person (the legatee) under a will on the understanding that they will hold the property as trustee for the benefit of beneficiaries who are not named in the will.

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Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs).

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Self-dealing is the conduct of a trustee, an attorney, a corporate officer, or other fiduciary that consists of taking advantage of his position in a transaction and acting for his own interests rather than for the interests of the beneficiaries of the trust, corporate shareholders, or his clients.

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In law a settlor is a person who settles property on trust law for the benefit of beneficiaries.

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Sharia or sharia law (شريعة, is the Islamic legal system derived from the religious precepts of Islam, particularly the Quran and the Hadith. The term sharia comes from the Arabic language term sharīʿah, which means a body of moral and religious law derived from religious prophecy, as opposed to human legislation. Sharia deals with many topics, including crime, politics, and economics, as well as personal matters such as sexual intercourse, hygiene, diet, prayer, everyday etiquette and fasting. Adherence to sharia has served as one of the distinguishing characteristics of the Muslim faith historically. In its strictest and most historically coherent definition, sharia is considered in Islam as the infallible law of God.Coulson, N. J. (2011), A history of Islamic law, Aldine, ISBN 978-1412818551 There are two primary sources of sharia: the Quran, and the Hadiths (opinions and life example of Muhammad).Esposito, John (2001), Women in Muslim family law, Syracuse University Press, ISBN 978-0815629085 For topics and issues not directly addressed in these primary sources, sharia is derived. The derivation differs between the various sects of Islam (Sunni and Shia), and various jurisprudence schools such as Hanafi, Maliki, Shafi'i, Hanbali and Jafari. The sharia in these schools is derived hierarchically using one or more of the following guidelines: Ijma (usually the consensus of Muhammad's companions), Qiyas (analogy derived from the primary sources), Istihsan (ruling that serves the interest of Islam in the discretion of Islamic jurists) and Urf (customs). Sharia is a significant source of legislation in various Muslim countries. Some apply all or a majority of the sharia code, and these include Saudi Arabia, Sudan, Iran, Afghanistan, Pakistan, Brunei, United Arab Emirates, Qatar, Yemen and Mauritania. In these countries, sharia prescribed punishments such as beheading, flogging and stoning continue to be practiced judicially or extra-judicially. The introduction of sharia is a longstanding goal for Islamist movements globally, including in Western countries, but attempts to impose sharia have been accompanied by controversy, violence, and even warfare. Most countries do not recognize sharia; however, some countries in Asia, Africa and Europe recognize parts of sharia and accept it as the law on divorce, inheritance and other personal affairs of their Islamic population. In Britain, the Muslim Arbitration Tribunal makes use of sharia family law to settle disputes, and this limited adoption of sharia is controversial. The concept of crime, judicial process, justice and punishment embodied in sharia is different from that of secular law. The differences between sharia and secular laws have led to an ongoing controversy as to whether sharia is compatible with secular forms of government, human rights, freedom of thought, and women's rights.

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STEP (the Society of Trust and Estate Practitioners) was founded by George Tasker in 1991 and is the international professional body for those who work in the trust industry and the (often overlapping) field of estate administration.

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South Africa, officially the Republic of South Africa, is the southernmost country in Africa.

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In United States trust law, a SPA Trust is an irrevocable trust that includes a special power of appointment.

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A spendthrift (also called profligate) is someone who spends money prodigiously and who is extravagant and recklessly wasteful, often to a point where the spending climbs well beyond his or her means.

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A spendthrift trust is a trust that is created for the benefit of a person (often unable to control his spending) that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary.

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A state government (provincial government in Canada) is the government of a country subdivision in a federal form of government, which shares political power with the federal or national government.

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The statute of frauds refers to the requirement that certain kinds of contracts be memorialized in a writing, signed by the party to be charged, with sufficient content to evidence the contract.

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A statutory corporation is a corporation created by statute.

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A surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract.

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T Choithram International SA v Pagarani was a decision of the Judicial Committee of the Privy Council on appeal from the British Virgin Islands in relation to the vesting of trust property in a trustee.

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Tangible property in law is, literally, anything which can be touched, and includes both real property and personal property (or moveable property), and stands in distinction to intangible property.

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A tax (from the Latin taxo; "rate") is a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state to fund various public expenditures.

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Tax avoidance is the legal usage of the tax regime to one's own advantage to reduce the amount of tax that is payable by means that are within the law.

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A tax haven is a state, country, or territory where, on a national level, certain taxes are levied at a very low rate or not at all.

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Tax noncompliance is a range of activities that are unfavorable to a state's tax system.

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A testamentary trust (sometimes referred to as a will trust or trust under will) is a trust which arises upon the death of the testator, and which is specified in his or her will.

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In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest.

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A Totten trust (also referred to as a "Payable on Death" account) is a form of trust in the United States in which one party (the settlor or "grantor" of the trust) places money in a bank account or security with instructions that upon the settlor's death, whatever is in that account will pass to a named beneficiary.

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Transparency, as used in science, engineering, business, the humanities and in other social contexts, implies openness, communication, and accountability.

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A trust or corporate trust is an American English term for a large business with significant market power.

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A trust instrument (also sometimes called a deed of trust, where executed by way of deed) is an instrument in writing executed by a settlor used to constitute a trust.

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A trust is a relationship whereby property is held by one party for the benefit of another.

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Trust law is not part of most civil law jurisdictions, but is a common figure in most common law system (and thus in most Commonwealth jurisdictions).

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A trust-preferred security is a security possessing characteristics of both equity and debt.

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Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, can refer to any person who holds property, authority, or a position of trust or responsibility for the benefit of another, also a trustee can be a person who is allowed to do certain tasks but not able to gain income.

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Trusts & Estates is a wealth management journal published by Penton Media which covers trust law and estates.

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The Uniform Trust Code is a model law in the United States, which although not binding, is influential in the states, and used by many as a model law.

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A unit trust is a form of collective investment constituted under a trust deed.

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The United States of America (USA), commonly referred to as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major territories and various possessions.

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A waiver is the voluntary relinquishment or surrender of some known right or privilege.

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A waqf, also spelled wakf, (وقف, pronounced; plural أوقاف, awqāf; vakıf, وقف), or mortmain property, is, under the context of 'sadaqah', an inalienable religious endowment in Islamic law, typically donating a building or plot of land or even cash for Muslim religious or charitable purposes with no intention of reclaiming the assets.

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A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his or her estate and provides for the distribution of his or her property at death.

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[1] https://en.wikipedia.org/wiki/Trust_law

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