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LSDefine

Simple English definitions for legal terms

trust corpus

Read a random definition: noncontributory pension plan

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

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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