Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

trust corpus

Read a random definition: simple-contract debt

A quick definition of trust corpus:

A trust corpus is the property that is put into a trust. It's like the body of the trust. The trustee takes care of the trust corpus for the benefit of someone else. It's an important part of making a trust.

A more thorough explanation:

The term “corpus” is Latin for "body.” In the context of a trust, a trust corpus refers to the property that is transferred into the trust. It is also known as the trust res. A trust corpus is one of the essential elements that must be defined for the formation of a valid trust. A trustee holds the trust corpus for the benefit of another.

For example, if a person creates a trust and transfers their house, car, and savings account into the trust, then the house, car, and savings account are the trust corpus. The trustee will manage and hold these assets for the benefit of the trust's beneficiaries.

Another example is if a wealthy individual creates a trust and transfers their investment portfolio into the trust. The investment portfolio would be the trust corpus, and the trustee would manage and hold the portfolio for the benefit of the trust's beneficiaries.

These examples illustrate how the trust corpus is the property that is transferred into the trust and held by the trustee for the benefit of the trust's beneficiaries.

Trust Beneficiary | trust declaration

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.