In a trust, the trustee is often the same person as the beneficiary

Both individuals and businesses can establish trusts

Business trusts can allow trustees to manage a beneficiary’s stake in a business, and more. There are many different specific types of business trusts.

Trusts are estate planning tools

They’re used as a way to designate assets to beneficiaries while skirting certain taxes and maintaining one’s privacy. They can hold a wide range of assets, including cash, real estate, stocks, businesses, and more.

Trusts offer ways to reduce the taxes beneficiaries pay on assets in one’s estate

People of different socioeconomic classes often decide to establish a trust to avoid certain taxes. When someone dies and leaves assets to beneficiaries in a will, those beneficiaries must pay specific taxes a trust's beneficiaries avoid. It all depends on the type of trust.

Revocable trusts are more flexible than irrevocable trusts

Irrevocable trusts are almost impossible for the grantor to change or dissolve. With a revocable trust, the grantor can alter or dissolve the trust at any time. However, there are upsides to irrevocable trusts, too—such as the fact that they’re typically not subject to estate taxes, unlike revocable trusts.

Probate is a legal process that determines if someone’s will is valid

The executor of the will in question not only collects estate assets, but also pays outstanding taxes and more. Grantors sometimes opt for a revocable trust instead of a will so their assets avoid probate in the event of their death.

Learn how to set up a trust

Setting up a trust often costs at least a few thousand dollars, given that the process typically requires paying for a lawyer’s time. An article lays out the step-by-step process one should follow in order to set a trust up.

Novels sometimes use unreliable narrators

When we read a book, we’re effectively forced to take the narrator’s word for what’s unfolding. But what if that narrator has a biased take on those events? What if, in a general sense, that narrator can’t be trusted? Enter the unreliable narrator, a strategic way of shaping a story that adds an additional layer to the narrative.

Supreme Court justices serve for life

The Constitution grants Supreme Court justices lifetime appointments to shield them from electoral politics and outside pressure, a design meant to preserve judicial independence but now widely debated due to longer lifespans and partisan balances of the court.

International organizations exploit ultimate beneficial owner policies in different countries to shield bad actors

UBO policies help determine who owns businesses by evaluating who is making the decisions, regardless of the listed owner.

Annuities differ from life insurance policies in a few key ways, such as when they're paid out and who they benefit

Annuities are intended to benefit the plan owner, and benefits are paid out during the owner's life. The person who buys life insurance rarely sees those benefits—they're intended instead for heirs and dependents.

How Anthropic's experimental corporate structure incentivizes safe AI development

As Anthropic is a public benefit corporation, its board is tasked with making sure that AI tools are developed to help people and society thrive. Members of its Long Term Benefit Trust hold no equity in the company, but make up a majority of the board and can act to maintain Anthropic's public benefit purpose.

Private credit and private equity are both alternative assets

Like private equity fund managers, private credit managers typically raise funds directly from investors, lending to corporations. The borrowers can benefit from the lack of middlemen and resulting efficiency, and the lenders often yield comparatively higher returns.

How mutual funds work

Mutual funds function similarly to other types of investments. If you want to invest, you go through a brokerage firm. However, they have a few key differentiators. Most are actively managed by a broker instead of passively earning you returns. Plus, they can carry some hefty fees.

Who was Buffett’s right-hand man, Charlie Munger?

Charlie Munger was vice-chair at Berkshire Hathaway until his death in 2023. He was a close business partner and friend of Buffett who helped lead, influence, and execute many of the guiding investing principles Buffett lived by. Munger helped turn Berkshire Hathaway into the success it is today.

For-profit schools are not beholden to educational missions

While many private schools are nonprofit organizations, beholden to their missions and boards, some are for-profit entities owned by private individuals or corporations. In some cases, these institutions offer substandard courses and award unaccredited degrees.

Principals are important pieces of F1 teams

In the Big Four American sports, teams have a head coach to lead the team and a general manager to run the business side. In Formula 1, they have a team principal, who speaks publicly on behalf of the team, manages the team's personnel, and engages with F1's governing body.

The reservation system gives tribes limited self-governance while keeping them under federal control

Federal law designates Native nations as "domestic dependent nations"—a legal category that recognizes limited tribal sovereignty while subordinating tribes to federal authority. This ambiguous status, introduced by Chief Justice John Marshall's 1831 opinion in Cherokee Nation v. Georgia, has shaped conflicts over land and governance ever since.

Securitization has become common practice in home financing

When a homebuyer finances with a lender, they aren’t necessarily the one footing the bill. After a buyer secures a home loan, the lender can sell the loan to another financial institution or a private institution. That group can later sell that mortgage to investors. This is called securitization.

A spousal IRA allows a working spouse to contribute to an IRA on behalf of their nonworking partner

This ensures both people can build financial security for the future. While it's not a separate account type, this provision requires couples to file a joint tax return to qualify, helping nonearning spouses save for retirement independently.

Ted Benna is the father of the 401(k)

It took a benefits consultant to highlight the financial power of a subtle, obscure tax code change buried away in Section 401, subsection k of the Internal Revenue Code. Benna realized this section, designed primarily for high-earning corporate executives, could help workers save money on taxes when preparing for retirement.

A deed is a legal document that shows change of homeownership during a sale

A deed differs from a title, which is the actual right of ownership to a property, and a concept rather than a physical document. These days, many deeds are online rather than physical pieces of paper kept in a home.

Pensions often must ‘vest’ for an employee to be eligible for them

This means that often, an employee won’t be eligible to receive a full pension benefit from an employer until they have worked at the job for a certain number of years. Specifically, these vesting schedules determine when one owns their employer’s pension contributions. The number of years varies significantly by employer.

Who provides therapy is more important than what method they practice

What makes therapy work well is the connection that patients feel with their therapist, and the trust in that relationship. Some research suggests that while the therapeutic model—say cognitive behavior therapy or psychodynamic therapy—accounts for roughly 15% of outcomes, the therapeutic relationship with the therapist accounts for more than 30%.

Money 'mules' don't always know they are laundering money

Money mules are anyone who receives money in a laundering scheme and then sends it forward, either to another company or to a financial institution. While some money mules—often called smurfs—actually work with criminals laundering money, getting someone to receive and then send money has become a popular scam.

Supervisors can’t join unions

Some union critics argue labor unions create unease between workers and their supervisors—partly because those supervisors are prohibited from joining unions. The National Labor Relations Act created that distinction between workers and their managers due to potential supervisor bias (think: pressure from company shareholders to vote differently in union elections).

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

While the sun's gravity keeps the planets in orbit, their gravity also pulls on the sun, causing it and everything else in the solar system to orbit around a mutual balance point called the barycenter—the true center of the solar system.

Recent research found that the brain doesn't seem to massively rewire following amputation—upending earlier beliefs about the cause of phantom limb pain.

The Brothers Grimm were lawyers before they were storytellers, but became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

Salvador Dalí believed he was his own dead brother, who had died nine months before he was born

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

While atoms are normally made of protons, neutrons, and electrons, exotic ones have been built with antimatter—alternate versions of normal matter that live for fractions of a second and are about a billion times as rare.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

The original copy of the Declaration of Independence is not a pristine document, and even features a smudged anonymous handprint in the bottom left corner.

Objects can be 3D printed with light by projecting 2D computerized tomography (CT) scans onto rotating cylinders of resin, which solidify upon exposure.

Pure water does not conduct electricity because this flow of energy requires the movement of charged particles, and water is a neutral molecule.

Indefinite cloning of some endangered species may not sustain their longevity because cloning success rates decrease as genetic mutations accumulate.

Some Pokémon have been named after real and fictional organisms, while some real-world species have been named after Pokémon, such as Chilicola charizard and Binburrum zapdos.

Existentialist writer Jean-Paul Sartre coined the famous phrase 'Hell is—other people' in his play 'No Exit'

Watch the cumbersome, but necessary, precautions healthcare workers must take to care for and protect themselves while caring for Ebola patients.

Watch how algorithms can be designed to train themselves and self-improve without human input, to the point where the optimized code is too complex for programmers to understand.

Double world record holder Hunter Ewen helped conquer his fear of balloons, called globophobia, by training to win Guinness World Record titles for balloon inflation.

The identity of the Tank Man in the iconic photo from the 1989 Tiananmen Square protests remains unknown and was possibly killed.

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.