Beneficiary: A person who receives or has a right to receive income or principal (corpus) of a trust.
Grantor/Settlor/Trustor: A person who establishes a trust.
Trustee: A person who holds legal title and manages trust assets. The trustee is responsible for all the actions of the trust.
Revocable Trust: A trust in which the grantor retains the right to end the trust. Revocable trust assets are included in the grantor's gross estate. The transfer of assets into a revocable trust is not subject to gift tax.
Irrevocable Trust: A trust in which the grantor relinquishes all control over the assets in the trust at the time of transfer. Irrevocable trust assets may not be included in the grantor's gross estate. The transfer of assets into an irrevocable trust is subject to gift tax.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC. Insurance products are offered through LPL or its licensed affiliates. Premier America Credit Union and Premier America Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier America Investment & Retirement Services, and may also be employees of Premier America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Premier America Credit Union or Premier America Investment & Retirement Services. CA Insurance License #0759204, TX Insurance License#1643255.
Securities and insurance offered through LPL or its affiliates are: