a authorized arrangement in which anyone or Business controls assets or dollars for the good thing about An additional individual or Firm:

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Transfer assets in the trust account. In case the trust is part of an estate system, you'll be able to designate the trust as a person of your beneficiaries. Like that, your assets move to the trust account whenever you die.

[countable, uncountable] (regulation) an arrangement by which a company or a gaggle of folks has legal control of income or assets that has been given to someone, commonly right until that human being reaches a specific age; an sum of money or house that may be managed in this manner

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Intelligent Vocabulary: associated words and phrases Trusting instead of trusting (it is possible to) rely upon/upon it idiom settle for/just take anything on faith idiom lender financial institution on another person/something believe have confidence in one thing distrust distrustful distrustfully have religion!

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Revocable trusts, also referred to as living trusts, are designed throughout the grantor’s life span and so are commonly employed for:

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