An estate consists of all the property a person owns or controls. The estate property may be in his or her name, held in a partnership, in a joint ownership arrangement, or through a trust. Estate property also includes all other movies that would be generated upon the person’s death, such as through the life insurance. An estate can be divided up into three categories: gross estate, residue estate and estate debt.
A trust is traditionally used for minimizing estate taxes and can offer other benefits as part of well-crafted estate plan. A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
|The use of imagination or original ideas to create something; inventivenessAn area or amount of land or property, in particular.||The action or process of innovating.An arrangement whereby a person (a trustee) holds property as its nominal owner for the good of one or more beneficiaries.|
|Synonyms||Plantation, farm, parcel and residence||Faith, hope, expectation and confidence|
|Antonyms||Adversity, boundary, commotion, disorder and dictatorship||Distrust, disbelief, uncertainty and doubt|
|Types||Its types are:
||Its types are:
|History||The origin of the trusts can be found in the eleventh century crusades. Crusading English knights left their manors and estates in the care of trusted friends for safekeeping while themselves away on crusade.|
|Word origin||It was originated from the Middle English: from Old French estat.||It was originated from the Middle English: from Old Norse traust.|
|Advantages/Benefits||Its advantages are:
||Its advantages are:
|Disadvantages||The disadvantages of trust are:
|Example in Sentence||