- published: 23 Oct 2012
- views: 30939
In common law legal systems, a trust is a relationship whereby property (real or personal, tangible or intangible) is held by one party for the benefit of another. A trust conventionally arises when property is transferred by one party to be held by another party for the benefit of a third party, although it is also possible for a legal owner to create a trust of property without transferring it to anyone else, simply by declaring that the property will henceforth be held for the benefit of the beneficiary. A trust is created by a settlor (archaically known, in the context of trusts of land, as the feoffor to uses), who transfers some or all of his property to a trustee (archaically known, in the context of land, as the feoffee to uses), who holds that trust property (or trust corpus) for the benefit of the beneficiaries (archaically known as the cestui que use, or cestui que trust). In the case of the self-declared trust, the settlor and trustee are the same person. The trustee has legal title to the trust property, but the beneficiaries have equitable title to the trust property (separation of control and ownership). The trustee owes a fiduciary duty to the beneficiaries, who are the "beneficial" owners of the trust property. (Note: A trustee may be either a natural person, or an artificial person (such as a company or a public body), and there may be a single trustee or multiple co-trustees. There may be a single beneficiary or multiple beneficiaries. The settlor may himself be a beneficiary.)
Susan Lynn "Suze" Orman (born June 5, 1951) is an American financial advisor, author, motivational speaker, and television host.
Orman was born in Chicago and received her B.A. in social work. She worked as a waitress in Berkeley, California before becoming a financial advisor for Merrill Lynch. In 1983 she became the vice-president of investments at Prudential Bache Securities and in 1987 founded the Suze Orman Financial Group.
Her program The Suze Orman Show has aired for eleven years and is one of the highest rated shows on CNBC. She has written nine consecutive New York Times Best Sellers and has written, co-produced and hosted seven PBS specials based on her books. Her PBS shows are the most successful fundraisers for PBS and have won two Emmy awards. She has also won the most Gracie Awards of any individual. In 2008 and 2009, Orman was named to the Times Magazine list of 100 most influential people, the 2010 Forbes Magazine 100 most powerful women in the world, and 18th on the Forbes list of The Most Influential Women In Media.[citation needed]
What is a Living Trust
The Living Trust Seminar - Inheritance Planning for You and Your Family in 2014 and Beyond
5 Quick and Easy Steps to Fund Your Living Trust
Last Will vs. Living Trust: What's the Difference?
Top 10 Reasons You Need A Living Trust
What is a revocable living trust?
Do I Need A Living Trust?
Putting a Bank Account into a Living Revocable Trust
Suze Orman: Why everyone needs a living revocable trust
Wills Versus Living Trusts
Setting up a Family Trust, Land Trust, and Living Trust to Protect Assets
How do you protect your home and transfer it under a Revocable Living Trust? - Shadi Shaffer; Esq.