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[ C ] a authorized arrangement during which an individual or Corporation controls home and/or money for one more particular person or Group:
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trust without the need of believing the trustee is trustworthy.[19] Holton gives the nice example of trusting an acquaintance to become sincere
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Trusts may also be employed for a shut-conclusion fund developed being a community minimal enterprise. Read on for more details on trusts And the way They may be utilised to safeguard property for beneficiaries.
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A trust account is an additional word for your trust. It may confer with possibly the legal trust arrangement or on the checking account by itself that retains the funds. Typically, a trustee manages the resources inside of a trust account for its grantor and ensures that the money end up with the specified beneficiary.
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