Trust

A fiduciaryAn individual or trust institution given the duty of acting for the benefit of another. relationship in which a personAn individual, corporation, partnership, Limited Liability Company or other legal entity. (REF CGS §38a-1(14))., calledAnother term for exercised when an option is a call. In the case of an option on a physical, the writer a trusteeAn individual or institution that holds the legal title to an asset and administers it for the benefit, holds titleTitle is the evidence of ownership. In essence, title is more important than ownership because having to propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. for the benefitAmount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss. of another person, called a beneficiaryThe person, persons or entity designated to receive the death benefits from a life insurance policy or annuity contract..

Trust

A legal instrumentAny writing having legal form and significance, such as a deed, mortgage, will, lease, etc. allowing one party to control propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. for the benefitAmount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss. of another.

Trust

A trust exists when one personAn individual, corporation, partnership, Limited Liability Company or other legal entity. (REF CGS §38a-1(14)). holds propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. for the benefitAmount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss. of another.