Glossar

Das Vokabular bedeutenden Privatvermögens:42 Begriffe, jeder mit einer eigenen Seite: Was er bedeutet, warum er wichtig ist und wo er zum Thema wird.

Alle Banking & Versicherung Familie & Governance Philanthropie Private Markets Public Markets Steuern Trusts & Nachlass

ILIT ILIT Irrevocable Life Insurance Trust

An irrevocable trust that owns a life insurance policy so that the death benefit is…

PFIC PFIC Passive Foreign Investment Company

A Passive Foreign Investment Company (PFIC) is a foreign corporation meeting…

DPI DPI Distributions to Paid-In

A private-fund metric expressing the ratio of cumulative cash distributions…

QP QP Qualified Purchaser

A higher securities-law eligibility tier, defined by a specified level of…

HEMS HEMS HEMS Standard

A trustee distribution standard limiting payouts to a beneficiary's health…

NIIT NIIT Net Investment Income Tax

A federal surtax applied to net investment income: such as interest, dividends, and…

Annual Exclusion A per-recipient, per-year amount that any individual may give away free of gift tax without touching their lifetime exemption; the amount is set by… Trusts & Nachlass

Beneficiary A person or entity entitled to receive benefits, income, principal, or both, from a trust, estate, insurance policy, or account. Trusts & Nachlass

Charitable Lead Trust CLT A trust that pays a stream of income to one or more charities for a fixed period, after which the remaining assets pass to family members or other… Trusts & Nachlass Charitable Remainder Trust CRT A tax-exempt trust that pays income to the grantor or other named beneficiaries for a period, after which the remaining assets pass to one or more… Trusts & Nachlass Charitable Remainder Unitrust CRUT A Charitable Remainder Unitrust, a CRT variant that pays beneficiaries a fixed percentage of the trust's assets as revalued each year, rather than a… Trusts & Nachlass Corpus (Principal) The property, cash, securities, real estate, or other assets, held inside a trust, also called the principal or trust estate, distinct from any… Trusts & Nachlass Crummey Power A temporary right granted to a trust beneficiary to withdraw a newly contributed gift, making that contribution eligible for the annual gift tax… Trusts & Nachlass

Decanting The process by which a trustee distributes assets from an existing trust into a new trust with updated or improved terms, using authority granted by… Trusts & Nachlass Directed Trust A trust structure in which certain decisions, commonly investment management or distribution authority, are formally delegated to named advisors… Trusts & Nachlass Distribution Standard The language in a trust document that defines when, how much, and for what purposes a trustee may or must distribute assets to beneficiaries. Trusts & Nachlass Domestic Asset Protection Trust DAPT A trust established under specific state statutes where the person creating the trust can also be a beneficiary while still receiving some creditor… Trusts & Nachlass Dynasty Trust A long-duration trust, often designed to last for multiple generations or indefinitely, structured to keep assets outside beneficiaries' taxable… Trusts & Nachlass

Estate Tax A federal (and sometimes state) tax levied on the total value of a deceased person's taxable estate before assets are distributed to heirs. Trusts & Nachlass

Fiduciary Duty A legal and ethical obligation requiring one party to act solely in another's best interest, with loyalty and prudence, when entrusted with authority… Trusts & Nachlass Fraudulent Transfer A transfer of assets made with intent to hinder, delay, or defraud creditors, which courts can reverse and return those assets to the creditor's… Trusts & Nachlass

Generation-Skipping Transfer Tax GST The Generation-Skipping Transfer (GST) tax is an additional federal tax on transfers, by gift or at death, made to recipients who are two or more… Trusts & Nachlass Gift Tax A federal tax on transfers of property from one person to another during the giver's lifetime, designed to prevent avoidance of the estate tax… Trusts & Nachlass Grantor (Settlor) The individual who creates a trust, contributes assets to it, and establishes its terms, sometimes called the settlor or trustor. Trusts & Nachlass Grantor Retained Annuity Trust GRAT An irrevocable trust in which the grantor receives fixed annuity payments for a set term, and any remaining assets pass to beneficiaries potentially… Trusts & Nachlass Grantor Trust Status A tax classification in which the person who created a trust, the grantor, is treated as the owner of trust assets for income-tax purposes and must… Trusts & Nachlass

HEMS Standard HEMS A trustee distribution standard limiting payouts to a beneficiary's health, education, maintenance, and support: an IRS-recognized phrase that also… Trusts & Nachlass

Intentionally Defective Grantor Trust IDGT An irrevocable trust deliberately structured so that assets leave the grantor's estate for transfer-tax purposes while the grantor remains… Trusts & Nachlass Intestacy The legal condition of dying without a valid will, causing the state's default inheritance laws, not the deceased's wishes, to determine who receives… Trusts & Nachlass Irrevocable Life Insurance Trust ILIT An irrevocable trust that owns a life insurance policy so that the death benefit is excluded from the insured's taxable estate. Trusts & Nachlass Irrevocable Trust A trust that, once established, generally cannot be changed or revoked by the grantor, trading control for potential tax and asset-protection… Trusts & Nachlass

Letter of Wishes A non-binding written document in which a person or trust settlor communicates personal preferences and context to trustees, without creating legal… Trusts & Nachlass Lifetime Exemption The cumulative amount a person may transfer by gift during life or bequest at death, combined, before federal transfer taxes apply; the amount is set… Trusts & Nachlass

Portability A federal estate-tax rule allowing a surviving spouse to claim any unused portion of a deceased spouse's lifetime exemption, effectively combining… Trusts & Nachlass Pour-Over Will A will that automatically directs any assets left outside a trust at death into that trust, ensuring the trust's terms govern their ultimate… Trusts & Nachlass Power of Appointment A legal right granted in a trust or will allowing a designated person to direct who ultimately receives specific property or trust assets. Trusts & Nachlass Probate The court-supervised legal process by which a deceased person's will is validated, debts are settled, and remaining assets are distributed to heirs. Trusts & Nachlass

Qualified Personal Residence Trust QPRT A trust into which a homeowner transfers a personal residence at a reduced gift-tax value, retaining the right to live there for a fixed number of… Trusts & Nachlass

Reciprocal Trust Doctrine A legal rule that can cause courts to "uncross" two mirror-image trusts created by spouses or partners, effectively treating each grantor as owning… Trusts & Nachlass Revocable Trust A legal arrangement in which the person who creates the trust retains full power to amend, revoke, or dissolve it at any time during their lifetime. Trusts & Nachlass Rule Against Perpetuities RAP A legal rule that historically limited how long a trust could hold property before it had to terminate and distribute assets to beneficiaries. Trusts & Nachlass

Section 7520 Rate The Section 7520 rate is the IRS-published monthly interest rate used to value annuities, income interests, and remainder interests in trusts for… Trusts & Nachlass Situs The legal jurisdiction, typically a U.S. state or foreign country, whose laws govern a trust's administration, validity, and taxation. Trusts & Nachlass Spendthrift Clause A trust provision that prevents a beneficiary from voluntarily transferring their interest and blocks creditors from reaching trust assets before a… Trusts & Nachlass Spousal Lifetime Access Trust SLAT An irrevocable trust funded by one spouse for the benefit of the other, allowing the gifting spouse to remove assets from their estate while… Trusts & Nachlass Step-Up in Basis A reset of an inherited asset's cost basis to its fair market value at the original owner's date of death, potentially eliminating capital gains tax… Trusts & Nachlass

Trust Protector A person or entity appointed in a trust document with defined powers to oversee, modify, or intervene in the trust's administration independently of… Trusts & Nachlass Trustee The individual or institution legally responsible for holding, managing, and distributing trust assets according to the trust document and applicable… Trusts & Nachlass

Glossar

Die Vermögensleiter

Investieren

Planen

Familie

Referenz