Trust Under Agreement Meaning
For the king`s courts, the land belonged to the mandatary, who was not obliged to return it. The cruise line had no legal rights. But trusts are very versatile vehicles that can protect assets and direct them to the right hands in the present and into the future, long after the original owner has died. Qualified Terminable Interest Property Trust: This trust allows a person to trace assets at different times to certain beneficiaries – their survivors. In the typical scenario, a spouse receives a lifetime income from the trust and the children receive what is left after the death of the spouse. UDT is an acronym for «under declaration of trust», which is the legal language used in some trust instruments to indicate that the licensor creates both the trust and controls its assets. .