Definition of Trust property:
Trust property refers to assets that have been placed into a fiduciary relationship between a trustor and trustee for a designated beneficiary. Trust property may include any type of asset, including cash, securities, real estate, or life insurance policies. Trust property is also referred to as "trust assets" or "trust corpus.".
All real or personal assets transferred to the trustee(s) under a trust agreement as the body or object of the trust. Also called trust assets, trust corpus, trust estate, trust fund, trust object, or trust res.
Trust property is typically tied into an estate planning strategy used to facilitate the transfer of assets upon death and to reduce tax liability. Some trusts can also protect assets in the event of a bankruptcy or lawsuit. .
How to use Trust property in a sentence?
- Trust property removes tax liability on the assets from the trustor to the trust itself, in some cases.
- Trust property refers to the assets placed into a trust, which are controlled by the trustee on behalf of the trustor's beneficiaries.
- Estate planning allows for trust property to pass directly to the designated beneficiaries upon the trustor's death without probate.
Meaning of Trust property & Trust property Definition