Revocable Living Trust
Trust in which rights to make any changes therein are retained by the grantor. At the grantor's death all rights become irrevocable. This type of trust has several advantages: it can avoid probate, it prevents public disclosure of the assets of the trust, it can easily be revised or terminated, and it promotes continuity for the transfer of the estate. However, since the grantor retains ownership rights under this trust, the trust loses all of the income and estate tax advantages available under an irrevocable living trust.
Popular Insurance Terms
Costs associated with the general administration of the insurance organization to include such items as utilities, rent, salaries, postage, furniture, and housekeeping charges. ...
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Deferred annuity under which one premium payment is made and the annuity is paid up (no further premium payments are required). ...
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Arrangement whereby an insurance company agrees to pay specified health care service vendors a predetermined sum for providing such services to the covered individuals. ...
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