Glossary Archive

Trust Accounting Practices refer to the established procedures and guidelines used to manage and report the financial activities of a trust. These practices ensure that all transactions related to the trust are accurately recorded, reported, and compliant with legal and fiduciary standards. Trust accounting involves maintaining detailed records of all income received, expenses incurred, and...

Trust Administration Trust administration refers to the process of managing and executing the terms of a trust according to the wishes of the trustor (the person who created the trust) and in accordance with applicable laws. It involves a fiduciary duty, meaning the trustee must act in the best interest of the beneficiaries and adhere...

A Trust Administration Bond is a type of surety bond required in certain circumstances during the administration of a trust. This bond serves as a financial guarantee that the trustee will faithfully execute their duties in accordance with the terms of the trust and the laws governing fiduciary responsibilities. The primary purpose of a Trust...

A Trust Agreement is a legal document that establishes a trust, outlining the terms under which the trust operates and detailing the roles and responsibilities of the parties involved. The primary parties in a Trust Agreement include the grantor (or settlor), who creates the trust and transfers assets into it; the trustee, who manages the...

Trust Asset Allocation Trust Asset Allocation refers to the strategic distribution of various types of assets held within a trust to achieve specific investment goals, risk management, and tax efficiency for the benefit of the trust's beneficiaries. This process involves deciding how to divide the trust's holdings among different asset classes, such as stocks, bonds,...

Trust Asset Replacement Provision A Trust Asset Replacement Provision is a clause typically included in a trust agreement that allows the trustee to replace or substitute assets within the trust without violating the terms of the trust. This provision is particularly important for maintaining the intended distribution and value of the trust's assets over time....

Trust Beneficiary A trust beneficiary is an individual or entity that is entitled to receive benefits from a trust according to the terms set forth in the trust document. Trusts are legal arrangements that allow a trustor (the person who creates the trust) to transfer assets to a trustee (the person or institution responsible for...

Trust-Building Techniques in Mediation Trust-Building Techniques in Mediation refer to strategies and practices applied during mediation processes to establish and enhance trust among the parties involved. These techniques are essential for creating an environment conducive to open communication and collaborative problem-solving, ultimately leading to more effective resolutions. One significant aspect of trust-building in mediation is...

A Trust Certification of Existence is a legal document that verifies the existence and validity of a trust. This certification is typically issued by the trustee or the attorney managing the trust and serves as formal evidence that the trust is in effect, often needed for various transactions or legal processes. This document includes essential...

Trust Corpus The trust corpus, also known as the principal or body of the trust, refers to the assets that are placed into a trust for management and distribution according to the terms of the trust agreement. These assets can include a wide range of property types, such as cash, real estate, stocks, bonds, or...