Trust

Extracted Attributes

• Application (Molly Bloom)

  Sales coaching, cultivating relational capital

• Definition (Social Science)

  Confidence in or dependence on a person or quality

• Core Principle Learned by Molly Bloom

  Importance of building Trust

• Consequence of Compromising Trust (Molly Bloom)

  FBI investigation, asset forfeiture, legal prosecution

Timeline

• Molly Bloom establishes her high-stakes poker game in Los Angeles, initially at the Viper Room, successfully building trust to attract celebrity players like Tobey Maguire and Ben Affleck. (Source: related_documents)

  Undated

• Molly Bloom moves to New York City to build an even larger and more luxurious poker game, continuing to rely on the establishment of trust within a high-stakes environment. (Source: related_documents)

  Undated

• Molly Bloom makes the illegal decision to "Rake the game," compromising the trust of her players and leading to an FBI investigation and raid. (Source: related_documents)

  Undated

• Molly Bloom is prosecuted by the Southern District of New York, faces asset forfeiture, and through these experiences, learns profound lessons about the importance of trust and integrity. (Source: related_documents)

  Undated

• Molly Bloom applies the core principles she learned about building trust, managing fear, and maintaining integrity to her current work in sales coaching. (Source: related_documents)

  Undated

Trust

Trust often refers to: Trust (social science), confidence in or dependence on a person or quality It may also refer to:

Web Search Results

• Trust (law) - Wikipedia

  A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. In the English common law, the party who entrusts the property is known as the "settlor," the party to whom it is entrusted is known as the "trustee," the party for whose benefit the property is entrusted is known as the "beneficiary," and the entrusted property is known as the "corpus" or "trust property." A testamentary [...] trust is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life. [...] A trust may have multiple trustees, and these trustees are the legal owners of the trust's property, but have a fiduciary duty to beneficiaries and various duties, such as a duty of care and a duty to inform. If trustees do not adhere to these duties, they may be removed through a legal action. The trustee may be either a person or a legal entity such as a company, but typically the trust itself is not a legal entity and any litigation involving the trust must include the trustee as a party. A

• What Is A Trust? - Fidelity Investments

  A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries. [...] Protection of your legacy. A properly constructed trust can help protect your estate from your heirs' creditors or from beneficiaries who may not be adept at money management. Privacy and probate savings. Probate is a matter of public record; a trust may allow assets to pass outside of probate and remain private, in addition to possibly reducing the amount lost to court fees and taxes in the process. [...] | Testamentary trust | Outlined in a will and created through the will after the death, with funds subject to probate and transfer taxes; often continues to be subject to probate court supervision thereafter | | Irrevocable life insurance trust (ILIT) | Irrevocable trust designed to exclude life insurance proceeds from the deceased’s taxable estate while providing liquidity to the estate and/or the trusts' beneficiaries |

• trust | Wex | US Law | LII / Legal Information Institute

  A trust is a right, enforceable in equity, to the beneficial enjoyment of property held by another party who actually holds legal title. The property held may itself be called a "trust," especially if it consists entirely of invested money (i.e., a trust fund). The formation of a valid trust requires: [...] Please help us improve our site! No thank you Cornell Law School Search Cornell # trust A trust is a form of division of property rights and a fiduciary relationship, in which ownership of assets goes to a third party, known as a trustee, and the beneficial enjoyment goes to the beneficiary. The person who transfers the property into the trust is known as the grantor or settlor.

• What is a trust: How does it work, Benefits and Types | TIAA

  In simple terms, a trust is a legal document that governs your wishes for how and when to transfer your assets, including sentimental items, to your loved ones or charitable organizations. However, in practice, the landscape of trusts encompasses various types, terminology, structures, and tax rules, which can be perplexing. [...] Wills provide instructions on how to distribute your assets after you die. Trusts are legal contracts that allow you to transfer your assets, before or after death, to an account to be managed by yourself (if you are still living) or others. Importantly, assets held in trust do not need to go through probate court—allowing your beneficiaries to access their inheritances more easily and quickly. While it may make sense for some people to have only a will, typically those with a trust(s) should [...] ## Why have a trust? Estate planning through a trust can provide peace of mind that your assets will be protected and distributed according to your wishes. While establishing a trust can be more expensive and time-consuming than establishing a will, trusts offer several potential benefits, including:

• Definition of a trust | Internal Revenue Service

  In general, a trust is a relationship in which one person holds title to property, subject to an obligation to keep or use the property for the benefit of another. A trust is formed under state law. You may wish to consult the law of the state in which the organization is organized. Note that for a trust to qualify under section 501(c)(3) of the Code, its organizing document must contain certain language. Publication 557 PDF contains suggested language"). Continue