trust protector

The trust document may appoint a trust protector and set out their powers.  The trust protector specific duties will be as assigned in the trust document, but they are generally to direct the trustees in their administration of the trust, and ensuring the purpose of the trust is fulfilled.



dynasty trust

A trust designed to avoid transfer and estate taxes by passing wealth down through family generations. 

These trusts are irrevocable and often limited by state rules against perpetuity.



disclaimer trust

A form of bypass trust in which the surving spouse may disclaim property after the deceased spouses's death.  The disclaimed property will go directly into the bypass trust (rather then to the surviving spouse).  The surviving spouse will not have access to this property, but this property will not be subject to the estate tax on the death of the surivivng spouse.



declaration of trust

Also known as a Trust Instrument, this is the device (usually a document) that creates the trust.   It names the beneficiary(ies) and trustee(s), and may include the assets to be in the trust as well as issues about trust administration.




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