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Click on the first letter of the word from the list above to go to the
appropriate section of the glossary.
-T-
Tangible property: Property that is capable of being perceived by the senses (i.e land, buildings, business equipment).
Testamentary trust: A trust established after the death of the grantor under the provisions of the grantor's will.
Testator: One who writes and signs a will.
Trust: A legal mechanism that separates the responsibility of owning property from the benefits of owning property. Property placed in a trust is owned by the trust, and no longer is owned by the grantor.
Trustee: The person or legal entity who receives property and places it in a trust, and manages the trust for the benefit of the beneficiary.
