Tag: beneficiaries
Heir vs Beneficiary: Understanding the Difference
As we go through life, we acquire assets and possessions that hold significant value. We want them to be protected and passed onto our...
Incentive Trust
DefinitionIn American estate planning parlance, an incentive trust is a trust designed to encourage or discourage certain behaviors by using distributions of trust income...
Immediate Beneficiary
What is an immediate beneficiary
An immediate beneficiary is a person or entity who receives benefits from a trust or other financial arrangement immediately, as...
Named Beneficiary
What is 'Named Beneficiary' This term refers to any beneficiary named in a will, a trust, an insurance policy, pension plan accounts,...
Absolute Beneficiary
What is 'Absolute Beneficiary' A designation of a beneficiary that can not be changed without the written consent of that beneficiary. Also...
Charitable Remainder Trust
What is a Charitable Remainder Trust
A Charitable Remainder Trust, or CRT, is a type of trust that allows the settlor (the person establishing the...
Qualified Pre-Retirement Survivor Annuity (QPSA)
Qualified Pre-Retirement Survivor Annuity (QPSA) What is 'Qualified Pre-Retirement Survivor Annuity - QPSA' A death benefit that is paid to the...
Qualified Trust
What is 'Qualified Trust' A tax-advantaged fiduciary relationship between an employer and an employee in the form of a stock bonus, pension,...
Qualified Personal Residence Trust (QPRT )
What is 'Qualified Personal Residence Trust – QPRT ' A specific type of trust that allows its creator to remove a personal...
Qualified Terminable Interest Property (QTIP) Trust
What is a Qualified Terminable Interest Property (QTIP)?
A Qualified Terminable Interest Property, or QTIP, is a type of trust that provides income to a...