Trust Sub Account definition

Trust Sub Account or “TSA” means the financial account within the Master Trust maintained for the benefit of an individual Trust Beneficiary and shall be equal to the initial value of the assets contributed on the Trust Beneficiary's behalf less disbursements made on behalf of the Trust Beneficiary, increased by earnings and appreciation, less taxes, expenses, depreciation and fees as set forth in the Joinder Agreement. The letters TSA refers to the Trust Beneficiary’s Trust Sub Account.
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Trust Sub Account means that portion of the entire Trust estate that is established and managed for the sole benefit of a Beneficiary.
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Trust Sub Account means the Trust account established upon valid execution of the Joinder Agreement for the exclusive benefit of the Beneficiary.
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Examples of Trust Sub Account in a sentence

  • Trust sub-account income, whether paid in cash or distributed in other property, may be taxable to the Beneficiary subject to applicable exemptions and deductions.

  • Any and all earnings, interest, and other investment income realized on the investment of the Trust Assets shall be allocated to each State Trust subaccount on the basis of the respective subaccount balances at the end of each month.

  • Distributions from the Beneficiary’s Trust sub-account may be made during the life of the Beneficiary in accordance with the provisions below.

  • With this recognition and acknowledgment in mind, the Grantor has expressed the Grantor’s desires as to how assets in the Trust sub-account might be used on behalf of the Beneficiary during the Beneficiary’s lifetime.

  • Trust sub-account income may be taxable to the Trust, and when this is the case, such taxes shall be payable from the Trust sub-account.

  • The Beneficiary’s Trust sub-account is established for the sole benefit of the Beneficiary, and all distributions shall be made only for the sole benefit of the Beneficiary, both at the time this Trust sub-account is established and/or anytime in the future.

  • Any and all earnings, interest, and other investment income realized on the investment of the Trust Assets shall be allocated to each Indian Tribe Trust subaccount on the basis of the respective subaccount balances at the end of each month.

  • The Grantor recognizes and acknowledges that all distributions are subject to the Trustee’s sole and absolute discretion; that the Trust sub-account is not a support trust; that the Trustee shall only make distributions solely for the Beneficiary’s supplemental needs and supplemental care; and, that the Trustee shall possess and exercise the authority to allocate all distributions between principal and income as it determines in its sole and absolute discretion.

  • The Beneficiary’s Trust sub-account will be administered solely for the benefit of the Beneficiary.

  • Any assets that remain in the Beneficiary’s separate Trust sub-account at the Beneficiary’s death shall be treated in accordance with the provisions below.