trust

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Related to trusts: Sherman Antitrust Act, Irrevocable trust, Revocable Trusts, Living Trusts, Business Trusts

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 ?
For the touch of grief will render My wild nature more serene, Give to life new aspirations, A new trust in the unseen.
There are other trusts in the country just as illegal and extortionate as the Beef Trust: there is the Coal Trust, that freezes the poor in winter--there is the Steel Trust, that doubles the price of every nail in your shoes--there is the Oil Trust, that keeps you from reading at night--and why do you suppose it is that all the fury of the press and the government is directed against the Beef Trust?
To come down to my own experience, my companion and I, for I sometimes have a companion, take pleasure in fancying ourselves knights of a new, or rather an old, order--not Equestrians or Chevaliers, not Ritters or Riders, but Walkers, a still more ancient and honorable class, I trust.
She is nothing more or less than a grown-up child; and I can plainly detect that Miss Vanstone trusts her, as she would not have trusted a sharper woman, on that very account.
I would tell you where, for I trust you, but it'd make jealousy among the mates.
It trusts to Socialism and to Science as its methods.
Why, Burge trusts almost everything to you now, Adam, doesn't he?
The great interest with which the important events lately occurring at the Sandwich, Marquesas, and Society Islands, have been regarded in America and England, and indeed throughout the world, will, he trusts, justify a few otherwise unwarrantable digressions.
He is quite aware of its numerous faults, some of which he has endeavored to repair in this edition; but as he has—in intention, at least—done his full share in amusing the world, he trusts to its good-nature for overlooking this attempt to please himself.
Her aunt did not neglect her: she wrote again and again; they were receiving frequent accounts from Edmund, and these accounts were as regularly transmitted to Fanny, in the same diffuse style, and the same medley of trusts, hopes, and fears, all following and producing each other at haphazard.
They were only women, but he who trusts a woman will walk on duckweed in a pool, as the saying is: and by the Right and Left of Gunga, that is truth
It's about a will and the trusts under a will--or it was once.