You create a trust for your favorite charitable cause: the neutering and spaying of domesticated skunks and chipmunks. You're passionate about it. You're going to donate your fortune to a not-for-profit dedicated to promoting education of this vital issue.
When you donate assets to the trust, you act as settlor. It’s the legal name given to the party handing over assets to the trust, though it can also be known by a number of other possible titles, such as donor or grantor.
Once handed over, the assets are run by the trustee.
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Finance: What is a Clifford Trust?0 Views
Finance Allah shmoop What is a Clifford trust Well first
what's a trust Well it's a special repository of money
that exists is a kind of distinct legal entity until
something happens So what's special about a Clifford trust Have
anything to do with that big red dog who slumbers
everywhere No keyword minors with an O not an eat
kids Your kid was one of those TV sitcom child
stars you unlike most of their appears parents were actually
a good parent So you set up a special Clifford
trust for your kid putting in a million bucks a
year for three years fully invested in S and P
five hundred index funds which grows in compounds away such
that Well it's worth six million bucks by the time
your kid turns eighteen At that point well she's fully
out of rehab hopefully for the final time and is
ready to go to a school or no not U
C L A Here bartending school That's what child starts
Teo But hey at least they're starting with six million
bucks to do so courtesy of the Clifford Trust you
set up which has all kinds of special provisions that
protect miners make you do the right thing by him
and I not take all their money so that well
they could then blow all the money on bars and
restaurants that they start that go bankrupt and watch themselves
slowly go bust
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