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
Procedure in which a home office interviewer (who may or may not have underwriting experience) interviews applicants on the telephone. The questions asked the applicant are automated and ...
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Annuity contract. If the annuitant dies before receiving income at least equal to the premiums paid, a beneficiary receives the difference in installments. If the annuitant lives after the ...
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