trust

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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 ?
You are aware, monsieur, that a man may be estimable and trustworthy in private life, and the best seaman in the merchant service, and yet be, politically speaking, a great criminal.
He was swelled with a tale he had heard from a reliable friend, who had heard it from a truthful cavalryman, who had heard it from his trustworthy brother, one of the order- lies at division headquarters.
I must hasten to add that he had also the other qualification necessary to make a trustworthy seaman - that of an absolute confidence in himself.
The English people, when they trouble to think about the army at all, are, and with justice, absolutely assured that it is absolutely trustworthy.
He could not venture to descend any further; so holding on with one hand, he with the other shook one by one all the slender roots around him, and at last, finding one which he thought trustworthy, shifted him self to it and continued his downward progress.
At that moment, if report be trustworthy, the sculptor beheld a waving motion through the grass, and heard a tinkling sound, as if something had plunged into the fountain.
Here are three written descriptions by trustworthy witnesses of Mr.
I hope you will prove yourself as courageous and trustworthy as he has always been.
All the chief actors being of a worldly importance, the barristers were well balanced; the prosecutor for the Crown was Sir Walter Cowdray, a heavy, but weighty advocate of the sort that knows how to seem English and trustworthy, and how to be rhetorical with reluctance.
He would do her no harm by idle gossip; he was trustworthy, intelligent, and even kind; he might even have a high opinion of her.
Some people would like to know whence the poet whose philosophy is in these days deemed as profound and trustworthy as his song is breezy and pure, gets his authority for speaking of "Nature's holy plan.
It is a sound, trustworthy institution, and steady-going relatives would assure Rutherford that he was lucky to have got a berth in it.