The party that creates a trust is known as the grantor. In the trust agreement, the grantor names a person, known as the trustee, to take possession of the trustâs assets and manage them. The trustee may be a person or a small business or corporation. The party that is designated to receive the income or other assets from the trust is known as the beneficiary.
Wiktionary(0.00 / 0 votes)Rate this definition: 1  determinable(Noun) An attribute of something that is suceptible of determination into various states. 2  determinable(Adjective) Able to be determined or limited. 3  determinable(Adjective) Able to be decided or settled by law.
Assets in which the right to receive a fixed or determinable amount of currency is absent. This feature distinguishes nonmonetary assets from monetary assets such as cash, bank deposits, and accounts and notes receivable, which can be converted into a fixed or determinable amount of currency.ssets in which the right to receive a fixed or determinable amount of currency is absent. This feature distinguishes nonmonetary assets from monetary assets such as cash, bank deposits, and accounts and notes receivable, which can be converted into a fixed or determinable amount of currency.