Personal financial vocabulary: Personal and charitable trusts

In den USA ist die Treuhand- und Vermögensplanung durchaus Teil der persönlichen Absicherung. In dem letzten Teil unserer Serie über Versicherungen geht es heute um die Treuhandgesellschaft.

Dear Reader,

According to Tara Siegel Bernhard, most people set up trusts to avoid the probate process, the long and costly court-supervised process (Nachlassgericht) to settle a deceased person’s estate common in the USA.

“Here’s how the revocable trust works: you put all of your assets into the trust, which remains in your control and can be changed at any time. For the trust to work, you need to re-title all of your assets to the trust  (a "pour over" will is also typically used to transfer, or "pour over," any assets that weren’t in the trust at the time of your death). After you die, a trustee that you name distributes the assets according to your instructions, all (the) while avoiding probate.“

The probate laws differ from state to state and can become very complicated if, for instance, a case crosses state lines (= part of the family lives in more than one state).

More useful vocabulary:

Personal and charitable trusts


Trust and estate services

Treuhand- & Vermögensplanung

Philanthropy and non-profit services

Wohltätigkeit und gemeinnützige Leistungen

Wealth protection strategies


Personal trust account


Trustee information


Charitable trust account

Gemeinnützige Stiftung

Charitable donation preferences

Bevorzugter gemeinnütziger Verein für Spenden

Kind regards,

Nelly Thomas