a person who entices or lures another person or thing, as into danger, a trap, or the like. 2. anything used as a lure. 3. a trained bird or other animal used to entice game into a trap or within gunshot. 4. an artificial bird, as a painted wooden duck, used for the same purpose.
A credit-shelter trust (also known as an A-B trust, a bypass trust, or an exemption equivalent trust) is a way for you to pass on your estate and to avoid estate taxes. Under a credit-shelter trust, your surviving heirs would not receive your property (which would then be subject to an estate tax).
The term has broader connotations and includes even mutual funds. For instance, in UK, the unit trust scheme is a collective investment scheme. However, in India, as in US, the definition of CIS excludes mutual funds or unit trust schemes etc. and is given a strict definition in Section 11AA of the SEBI Act, 1992. CISs are regulated by the securities market regulator â SEBI.