Charitable Lead Trust
Trust in which a charity receives income from a donated asset for a specified number of years that it is held in that trust. After the specified period concludes, the principal is transferred to the donor's beneficiaries. This vehicle is used to keep wealth in the family by significantly reducing the costs of transfer to beneficiaries. The charity has the use of the income earned by that money, but the charity does not have use of the principal. This distribution is a taxable gift.
Popular Insurance Terms
Educational organization for insurance women whose objective is to further the interests of these women through education and adherence to professional ethics. ...
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Trade group of independent claims adjusters who settle claims for insurance companies on a fee basis. Some insurers use their own staff adjusters to settle a claim. Others use an ...
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