what is a 3rd party trust?
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A third-party special needs trust is created and funded by someone other than the special needs person. ... The trustee is free to invest the funds with any financial advisor; the statute does not make any limitations. At the beneficiary's death, the trust funds pass to whomever the trustee names.
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Third party verification (TPV) is when an outside organization is used to review and confirm a customer's information and intentions to ensure accuracy.
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Third party administrator. An organisation to which an insurance company pays another company to do the administration or management of certain aspects of their business.
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Third Party Products means the products or services of parties other than BNYM that constitute part of the Licensed System. Based on 66 documents 66. ＋ New List. Third Party Products means the Third Party Software and Third Party Hardware.
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Privity of contract rules would prevent any liability arising between the architect and occupier without the existence of a collateral warranty. ... Third party rights are typically provided for by way of a notice stating that the third party is entitled to rely on specific provisions of the contract.
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A trust is a way to manage money or other assets for someone else. ... The settlor - the person who puts the assets or money into the trust. The beneficiary - the person who benefits from the trust. The trustee - the person who manages the trust.
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The Purpose of Third-Party Insurance. Third-party insurance covers only your liability for the damage to property other than your own and for injuries to other persons. It covers neither your own injuries nor damage to your own vehicle.
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A third-party payer is an entity that pays medical claims on behalf of the insured. Examples of third-party payers include government agencies, insurance companies, health maintenance organizations (HMOs), and employers.
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Third-party insurance is an insurance policy purchased for protection against the claims of another. ... Third-party offers coverage against claims of damages and losses incurred by a driver who is not the insured, the principal, and is therefore not covered under the insurance policy.
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Third party evidence is evidence which is obtained from someone other that the accused or the complainant. ... Any evidence held by the prosecution, even if not voluntarily disclosed to the defence, will be requested.
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Third-party sellers are independent sellers who offer a variety of new, used, refurbished, and collectible merchandise. The steps to place an order with a third-party seller are the same as placing any other order on Amazon.com.
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Third Party Contractors means any person or entity other than Contractor, its Affiliates or its Subcontractors who provides services in connection with the Project that are not within the Scope of Work and do no constitute Work under this Agreement, pursuant to an agreement (each a "Third Party Contract") with Owner.
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A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. ... Additionally, if it is an irrevocable trust, it may not be considered part of the taxable estate, so fewer taxes may be due upon your death.
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Third-party risk management (TPRM) is the process of analyzing and controlling risks associated with outsourcing to third-party vendors or service providers. This could include access to your organization's intellectual property, data, operations, finances, customer information or other sensitive information.
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Third Party Service Provider means any consultant, agent, advisor, or independent contractor who renders services to the Company, a Subsidiary, or an Affiliate that (a) are not in connection with the offer and sale of the Company's securities in a capital raising transaction, and (b) do not directly or indirectly ...
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Third-party web tracking refers to the practice by which an entity (the tracker), other than the website directly visited by the user, tracks or assists in tracking the user's visit to the site.
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“A trust is an equitable obligation, binding on a person (who is called a trustee) to deal with the property over which he has control (which is called the trust property) either for the benefit of persons (who are called the beneficiaries or the cestius que trust) of whom he may himself be one, and any of whom may ...