Irrevocable trust definition

Irrevocable trust means a trust over which no person holds a power of revocation. A power holder's lack of capacity to exercise a power of revocation negates the power of revocation unless an agent of the power holder under a durable power of attorney, a conservator of the power holder, or a plenary guardian of the power holder is serving and the agent, conservator, or guardian is authorized to exercise the power of revocation.

Irrevocable trust means a trust that may not be revoked after its creation by the trustor.

Irrevocable trust means a trust:

Examples of Irrevocable trust in a sentence

• Irrevocable trust means a trust in which the grantor has expressly not retained the right to terminate or revoke the trust and reclaim the trust principal and income.

• Irrevocable trust accounts are deposit accounts held by an irrevocable trust established by a statute or a written trust agreement.

• MSF share of collateral will be subordinated to that of the Lender.Guarantee: To match that of the Lender, anticipated to be the unlimited personal guaranty of Gretchen Valade, The Gretchen Valade Irrevocable trust dated 1/15/2009, The Gretchen Valade Revocable Trust dated 5/5/1982, Christos Moisides & Trust, David Sutherland & Trust and the unlimited corporate guaranty of Byzantine Holdings, LLC.

• Lindholm 2012 Irrevocable trust; to retain voting shares of Maple Banc Shares, Inc., and thereby indirectly retain voting shares of Bank of Maple Plain, both in Maple Plain, Minnesota.Board of Governors of the Federal Reserve System, June 21, 2013.Michael J.

• Deposit insurance coverage under this category is up to $250,000 for the beneficial interest of each noteholder or bondholder provided certain requirements are met. Category 11: Irrevocable trust accounts with an insured depository institution as trustee.

More Definitions of Irrevocable trust

Irrevocable trust means a trust in which the settlor may not revoke or terminate all or part of the trust without the consent of a person who has a substantial beneficial interest in the trust and the interest would be adversely affected by the exercise of the settlor's power to revoke or terminate all or part of the trust.

Irrevocable trust means a grantor trust that may be established prior to the occurrence of a Change in Control of the Company to assist the Company in fulfilling its obligations under this 2005 Plan but which shall be established by the Company in the event of a Change in Control of the Company. All amounts held in such Irrevocable Trust shall remain subject to the claims of the general creditors of the Company and Participants in this 2005 Plan shall have no greater rights to any amounts held in any such Irrevocable Trust than any other unsecured general creditor of the Company.

Irrevocable trust means a trust that cannot be revoked by the grantor or terminated by a court. A trust terminating only upon the occurrence of an event outside the control or direction of the beneficiary or the grantor is irrevocable.

Irrevocable trust means a trust that is not a revocable trust.

Irrevocable trust means a legal entity created for the benefit of designated beneficiaries which shall not be revoked or

Irrevocable trust means an irrevocable trust established by statute or a written trust agreement, except as described in paragraph (f) of this section.

Irrevocable trust means a trust that may not be revoked af- ter its creation by the trustor.