An estate planning vehicle established for the benefit of a young person, becoming absolutely entitled to the trust property on or before their 25th birthday, with specific inheritance tax implications.
A fiduciary bond is a surety bond that ensures the faithful performance of a fiduciary's duties.
A periodic inheritance tax charge on most forms of discretionary trusts, structured to balance the lack of generational transfer taxes.
A testamentary trust is a legal entity created as a result of a will and generally takes effect upon the death of the grantor, in contrast to an inter vivos trust which is established during the grantor's lifetime.
