Gift In Trust
Definition of "Gift in trust"
Value or property given by an individual to a trustee who holds and administers it for the benefit of the donee (recipient of the gift). For example, a father entrusts a life insurance policy with all ownership rights to a trustee. The trustee owns the policy, collects the proceeds, and administers the proceeds for the benefit of the donee son.
Popular Insurance Terms
Requirement that the combination of medicare and the employer's plan can not be greater than the amount the employer's plan would pay without Medicare. ...
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Classification of occupations according to the degree of risk inherent in that occupation. ...
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Statutory law that lowers the defendant's liability by restricting the monetary recovery of the plaintiff incurring a specified injury, such as pain and suffering, or by restricting the ...
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