do you know what the "insurance trust" is?
Category: glossary by T. U. From Liechtenstein
"insurance trust " is An irrevocable trust set up with a life insurance policy as the asset, allowing the grantor of the policy to exempt asset away from his or her taxable estate. Once the life insurance policy is placed in the trust, the insured person no longer owns the policy, which will be managed by the trustee on behalf of the policy beneficiaries when the insured person dies. The insurance trust, or irrevocable life insurance trust (ILIT), is often used to set aside cash proceeds that can be used to pay estate taxes, as the life insurance policy should be exempt from the taxable estate of the decedent. One catch on the insurance trust is that the life insurance policy must be transferred to the trust at least three years before the death of the insured. To get around this rule, a new policy can be taken out with a spouse as owner, then placed in the trust. As an irrevocable trust, changes can only be made by beneficiaries; the owner gives up all control to the trustee. If the size of the taxable estate is below the maximum exclusion figure, it is generally not necessary to set up an insurance trust; in this case the life insurance will be included in the decedent
please tell me what a "free and clear" is
Category: glossary by W. Mccoy from Canada
A slang phrase describing the situation of someone when he or she gains outright ownership of an asset, such as when it is completely paid off and no creditor has a claim on the property. The phrase is probably most commonly used in reference to one's mortgage. If your house is completely paid off, you own your house "free and clear." In the case of real estate, before a sale can occur, the property must be "free and clear" so the buyers know that there are no prior claims on it.
do you know what "mRO" is?
Category: glossary by Kailey X. From Dublin, Ireland
In currencies, this is the abbreviation for the Mauritanian Ouguiya. The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
please tell me what an "utmost good faith" is
Category: glossary by Quinten Y. From Canada
All contracts of insurance are subject to utmost good faith in that people are obliged to disclose any detail which may be of importance to the insurers whether or not it is requested.
do you know what a "cumulative preference shares" is?
Category: glossary by Johana K. From Wichita, United States
the "cumulative preference shares " is When a company fails to pay a dividend, holders of cumulative preference shares are entitled to receive this missed payment when a dividend is next declared. This rule is cumulative and they are also entitled to the current dividend provided sufficient ca
please tell me what "contract unit" is
Category: glossary by Faith X. From Belfast, United Kingdom
The actual amount of commodities represented by a single futures contract. Different futures contracts have different contract units and measurements. For example, soybean contracts have 5,000 bushels per contract, whereas soybean meal has 100 tons per contract.
Do you know of any forex platform that has innovative mobile-enhanced software that you can suggest for me?
Category: platform by Francis Q. From Nice, France
We think the best place for your purpose is "Global Forex Trading (GFT)". The look is gorgeous and the program's user interface is really a sophisticated one - their mobile accessible platform is one of the most modern and inviting trading environments online.
Which certificates are the most safe?
Category: technical by U. Frank from Cork, Ireland
We recommend you to look for a forex site that's certificated and regulated by popular institutes, for example SAM and DFSA. A lot of familiar forex sites use them. If you know a forex site is certificated by SAM and DFSA, you can trust that it is totally one of the more safe sites around. One of our most recommended forex sites as an example is "Saxo Bank".
Which online fx platform offers progressive trading, in your opinion?
Category: platform by Travon H. From Cork, Ireland
If you want the finest foreign exchange platform which provides a creative platform, you should register to "Global Forex Trading (GFT)". Their graphics are real great looking and the program's user interface is equipped with the newest developments in an online environment - this "Global Forex Trading (GFT)" is one of the most loved online foreign exchange platforms available. In addition, the download of the platform's program is a snap - the communication is flowing, it doesn't break off ever while you're downloading, and it's easy to understand and start playing.
please tell me what a "the wealth effect" is
Category: glossary by Alexis K. From North Las Vegas, United States
The premise that when the value of stock portfolios rises due to escalating stock prices, investors feel more comfortable and secure about their wealth, causing them to spend more. For example, economists in 1968 were baffled when a 10% tax hike failed to slow down consumer spending. Later this continued spending was attributed to the wealth effect. While disposable income fell as a result of increased taxes, wealth was rising sharply as the stock market moved up. Undaunted, consumers continued their spending spree. The wealth effect helps to power economies during bull markets. Big gains in people's portfolios can make them feel more secure about their wealth and their spending. However, the relationship between spending and stock market performance is a double-edged sword as poor stock prices in bear markets hurt economic confidence.