An agreement through which a grantor transfers property for the benefit of himself/herself or others. The agreement describes the operation of the trust.
A written instrument duly executed, sealed, and delivered, conveying or transferring property to a trustee, usually but not necessarily covering real property.
a legal arrangement whereby one person or institution, as trustee, manages property as specified in the agreement
An agreement that spells out the methods of receipt, investment and disbursement of funds under a Benefit Fund. It contains provisions for investment powers of trustees; payment of legal, trustee and other fees relative to the plan; exculpatory clauses pertaining to the employer or union by the trustees; records and accounts to be maintained by the trustees; conditions for removal, resignation or replacement of trustees; benefit payments under the plan; and the rights and duties of the trustees in case of amendment or termination of the plan.
A written agreement between a grantor and a trustee providing the terms of a trust.
A trust agreement is an agreement that discloses the methods of receipt, investment, and disbursement of funds under a retirement plan. The trust agreement may be a separate agreement or may be included in the plan document.
This is the formal contract which controls the Trust Property, and is usually between the Trustor and Trustee, for the benefit of the Beneficiary. We manage trusts that have Trust Agreements already written, or we will provide assistance, in conjunction with an outside attorney, in drafting a new Trust Agreement.
In a trusteed pension plan, the contract between the plan sponsor and the trustee that describes the trustee's authority and responsibilities for investing and administering plan assets. Trust agreements are also found when group insurance is provided through a multiple-employer trust (MET). | Back
A supplemental settlement agreement which distributes the proceeds in a special way, much as a regular fiduciary trust does. Insurance companies cannot enter into trust agreements.
A written agreement under which a grantor transfers legal ownership of property to another person or organization charged with administering the property for the benefit of a third person or persons. See deed of trust.
A written arrangement describing the trust and outlining the duties and responsibilities of the trustee.
(1) A supplemental agreement attached to and made a part of a Life Insurance policy setting forth the manner in which the proceeds are to be paid, in lieu of having them paid in a lump sum or under one of the other installment settlement options in the policy itself. (2) An agreement or instrument under which a corpus (fund/property) is given over to the management of the trustee named in a trust instrument for the benefit of the beneficiaries of the trust. (3) A written agreement between two parties _ the employer and the trustee _ setting forth the provisions of a pension plan. (LI,PE)
A written agreement setting forth the terms of the trust between the trustee and grantor.