Thurston

a guy who is sensational at basketball

joe - dude that guy is such a thurston
randy - fer sure

by BBaller2010 April 13, 2010

[Irrevocable Life Insurance Trust] , [ILIT]

Used primarily for estate creation, estate preservation, and estate conservation. Basically, a irrevocable trust is drafted (meaning drafted, designed, and created by a licensed JD professional aka a lawyer and/or attorney) to hold a LARGE life insurance policy on the insured (usually a parent(s), or the spouses parent(s), and upon materialization of the death certificate, the ILIT receives the death benefit insurance proceeds tax free!!! Yes, that's right, tax free! Most the time insurance proceeds are tax free, but there's the exemption limit, so even if the death benefit is WELL OVER the current exemption limit, the entire thing is passed tax free to the trust. The trust itself then has beneficiaries who receive the proceeds in accordance with the trusts design and instructions.

Irrevocable Life Insurance Trust , ILIT --- Basically, a child (grown up in this example) decides he'd/she'd like to after college, get a good job, and use his/her income (or some of it) to purchase a LARGE life insurance policy on his/her parents, and place it in a Irrevocable Life Insurance Trust, ILIT. Then upon materialization of the death certificate, the child is then passed tax free TONS of dinero! Then the child can take it easy, retire, and live off of e.g investments of any kind, perhaps treasury inflation protected securities.

by Andrew G. Bernhardt October 18, 2008

trust

Two cannibals giving each other a blow job.

Two cannibals giving each other a blow job is kinda trust.

by Kiaos August 31, 2007

trust tree

A mythical place where no one rats on each other especially supervisors ratting out the knuckle dragers

Yes I had my PPE on Mr. Staid. Don’t worry where in the trust tree

by jakdarb May 11, 2018

trust fail

A poorly executed trust fall, i.e. you do not catch the person who is dropping back in to your arms.

Kendall was all set with this team building exercise until Barry was gabbing to Corbin and not paying attention, resulting in Kendall falling back to not get caught by Barry - trust fail.

by the comand'r June 4, 2015

turdster

A weasly, bespeckled, ginger haired, personality vacuumed male.

Oy you, nob off turdster!

by Nonceman April 27, 2003

trust me

They say u should never trust someone that says "trust me",,... so do you trust the guy that says "Dont trust me"??

Dude says:Hey man, you can trust me,

You say: sorry man your just to trustfull sounding,but u did cook a nice steak tonight, this BBQ is slammin, this is the best BBQ ive ever been to, trust me..

by iamcorey May 22, 2010