CRUMMEY TRUST
Estate planning method used to take advantage of the gift tax exclusion when transferring assets and/or money to another individual, while setting limitations as to when the recipient can access the asset or mone. The trust allows a parent to make tax-free, lifetime gifts to his children as long as the amount does not exceed $13,000 annually per beneficiary. This cannot be accessed until the beneficiary reaches the age of 21.
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Lakshmi Mittal
An Indian steel magnate based in London and one of the wealthiest billionaires in the world. He is the President, Chairman, and Chief Executive Off ...
Countermand
Cancellation, revocation, or reversal of an order previously issued. In finance, it is specifically applicable to payments, which means a customer ...
Checkbook
Folder or booklet containing preprinted paper instruments issued to checking account holders, which is used to pay for products and/or services. It ...
Rent-A-Crowd
A group of people rented to make a business appear busy. This strategy is often used during grand openings of new businesses to give the appearance ...
Kiasu
A person is anxious of losing out to someone else. It is a traditional Chinese word that means “scared to lose” but is well-known in Si ...
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