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Definitions:
Trust Agreement
A legal document that outlines the terms and conditions under which a trust is to be managed and specifies the rights and duties of the parties involved.
Inheritance
A legal process through which assets, titles, debts, rights, and obligations are received from someone's estate after their death.
Compounded Annually
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan, occurring once per year.
Interest
Interest is the charge for borrowing money or the payment earned on deposited funds.
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