Definition
A legal arrangement where someone (the trustor) hands over assets to another party (the trustee) to manage for the benefit of yet another party (the beneficiary)—because apparently just giving things directly is too straightforward. It's the estate planning equivalent of an elaborate relay race. Often used by the wealthy to minimize taxes and maintain control from the grave.
Example Usage
Her grandmother set up a trust that would only release funds if she graduated college, got married, and named her first child 'Gertrude.'
Source: Legal and finance terminology
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See “trust” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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