trust

(redirected from The Trust)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.
Related to The Trust: The Trust for Public Land

Trust

A fiduciary relationship calling for a trustee to hold the title to assets for the benefit of the beneficiary. The person creating the trust, who may or may not also be the beneficiary, is called the grantor.

Trust

1. A relationship in which one party, known as the trustor, gives to a person or organization, known as the trustee, the right to hold and invest assets or property on behalf of a third party, known as the beneficiary. Most trusts exist to provide for the financial future of a minor child or mentally incompetent person. Trusts may also be set up to benefit charitable organizations. The trust agreement indicates at what time, if any, the beneficiary takes direct control of the assets. The beneficiary often receives disbursements to meet basic expenses until the time comes when the beneficiary takes control. Trusts are taxed on all money not given to the beneficiary. See also: Escrow, Charitable trust.

2. See: Monopoly.

trust

A legal arrangement whereby control over property is transferred to a person or organization (the trustee) for the benefit of someone else (the beneficiary). Trusts are created for a variety of reasons, including tax savings and improved asset management. See also charitable lead trust, charitable remainder trust, Clifford trust, marital-deduction trust, QTIP trust.

Trust.

When you create a trust, you transfer money or other assets to the trust.

You give up ownership of those assets in order to accomplish a specific financial goal or goals, such as protecting assets from estate taxes, simplifying the transfer of property, or making provision for a minor or other dependents.

When you establish the trust, you are the grantor, and the people or institutions you name to receive the trust assets at some point in the future are known as beneficiaries. You also designate a trustee or trustees, whose job is to manage the assets in the trust and distribute them according to the instructions you provide in the trust document.

trust

  1. a collection of ASSETS held and managed by appointed trustees on behalf of an individual or group of people. Trusts are often established to minimize the amount of INCOME TAX and WEALTH TAX an individual or group is required to pay. See TRUSTEE INVESTMENTS.
  2. see UNIT TRUST.
  3. an alternative term for a CARTEL (most commonly used in the USA).

trust

  1. ASSETS held and managed by trustees on behalf of an individual or group. While these assets are held in trust, the beneficiaries have no control over the management of them. In the UK, trusts have been used extensively to minimize the effects of income and wealth taxes.
  2. (formerly, in the USA) a means of organizing CARTELS, provoking the establishment of anti-trust (anti-monopoly) legislation.

trust

The practice of one party holding legal title to real property or other assets for the benefit of someone else,called the beneficiary.The one with the legal title is called the trustee.The person or entity that set up the trust is called the trustor.Trusts are extremely important in tax and estate planning but should almost never be established without the assistance of a tax attorney who is well skilled in the area. A very slight deviation from the format acceptable to the IRS could prove disastrous.

Trust

A tax entity created by a trust agreement. This entity distributes all or part of its income to beneficiaries as instructed by the trust agreement. This entity is required to pay taxes on undistributed income
References in classic literature ?
He was warmly followed by a number of the others, and the cry of all was to destroy the trusts.
It is true that we smaller capitalists are after profits, and that the trusts are taking our profits away from us.
But the trusts themselves arose out of competition," Mr.
And now, while we are on the trusts," Ernest went on, "let us settle a few things.
To destroy the trusts is the only way we can see to escape their domination.
That, gentlemen, is socialism, a greater combination than the trusts, a greater economic and social combination than any that has as yet appeared on the planet.
You are compelled to form a new political party because the old parties are in the hands of the trusts.
We captured the state legislature of Oregon and put through splendid protective legislation, and it was vetoed by the governor, who was a creature of the trusts.
When the combination of the trusts will control all legislation, when the combination of the trusts will itself be the government," Ernest interrupted.
When you rise in your strength, remember, the reason for your rising will be that the government is in the hands of the trusts.
And in the time to come, when you rise in your strength, remember that you will be rising against the property of the trusts, and the liberty of the trusts, according to the law, to squeeze you.