Login to Your Account

Trusts

Glossary

Beneficiary: A person who receives or has a right to receive income or principal (corpus) of a trust.

Grantor/Settlor/Trustor: A person who establishes a trust.

Trustee: A person who holds legal title and manages trust assets. The trustee is responsible for all the actions of the trust.

Revocable Trust: A trust in which the grantor retains the right to end the trust. Revocable trust assets are included in the grantor's gross estate. The transfer of assets into a revocable trust is not subject to gift tax.

Irrevocable Trust: A trust in which the grantor relinquishes all control over the assets in the trust at the time of transfer. Irrevocable trust assets may not be included in the grantor's gross estate. The transfer of assets into an irrevocable trust is subject to gift tax.

Share Article:
Add to GooglePlus
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Eaton Federal Financial Services is a trade name of the bank. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.

BrokerCheck

scrolltop

Accept Eaton Fed uses cookies to improve site functionality, provide you with a better browsing experience, and to enable our partners to advertise to you. By clicking "Accept" or using this site, you consent to the use of cookies. Detailed information on this site's use of cookies, and how you can decline them, is described in our Website Security and Privacy Statement.