Estate Planning has its own vocabulary. To help you speak the language, we've created a glossary of the more commonly used words and phrases. This glossary is comprised of 26 individual pages, one for each letter of the alphabet. To find a particular word or phrase that starts with the letter "N" - simply scroll down the list below. If your word or phrase starts with another letter, please use the alphabet index below.
A "nominee" is a person or entity who agrees to hold an asset for the sole benefit of the owner. In contrast, a trustee is a person or entity who agrees to hold an asset for the benefit of someone other than the owner. A typical situation involving a nominee is where a purchaser of stock agrees to leave the stock certificate with the brokerage firm to facilitate a future sale and to allow the firm to collect dividends. The brokerage firm serves as a nominee since it holds the stock solely for the benefit of the owner.
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