Definition of Trust:
A trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. Trusts are established to provide legal protection for the trustor’s assets, to make sure those assets are distributed according to the wishes of the trustor, and to save time, reduce paperwork and, in some cases, avoid or reduce inheritance or estate taxes. In finance, a trust can also be a type of closed-end fund built as a public limited company.
Legal entity created by a party (the trustor) through which a second party (the trustee) holds the right to manage the trustors assets or property for the benefit of a third party (the beneficiary). The four main types of trusts are: (1) Living: trust created by the trustor while he or she is alive. (2) Testamentary: trust established through a will and which comes into effect (is created) when the trustor dies. (3) Revocable: trust that can be modified or terminated by the trustor after its creation. (4) Irrevocable: trust that cannot be modified or terminated by the trustor after its creation.
Property interest held by a party (the trustee) for the benefit of another (the beneficiary).
A hope or expectation.
Believe in the reliability, truth, ability, or strength of.
A large company that has or attempts to gain monopolistic control of a market.
Trusts are created by settlors (an individual along with his or her lawyer) who decide how to transfer parts or all of their assets to trustees. These trustees hold on to the assets for the beneficiaries of the trust. The rules of a trust depend on the terms on which it was built. In some areas, it is possible for older beneficiaries to become trustees. For example, in some jurisdictions, the grantor can be a lifetime beneficiary and a trustee at the same time.
Allow credit to (a customer).
An arrangement whereby a person (a trustee) holds property as its nominal owner for the good of one or more beneficiaries.
Firm belief in the reliability, truth, ability, or strength of someone or something.
Synonyms of Trust
Confidence, Belief, Faith, Freedom from doubt, Freedom from suspicion, Sureness, Certainty, Certitude, Assurance, Conviction, Credence, Reliance, Aktiengesellschaft, Absolute interest, Accept, Accept for gospel, Accept implicitly, Acceptation, Acception, Acquiescence, Agency, Agentship, Aktiebolag, Arrogance, Aspiration, Aspire to, Assign, Assignment, Assumption, Assurance, Assured faith, Assuredness, Authority, Authorization, Bank credit, Bank on, Be certain, Belief, Believe, Believe in, Believe without reservation, Benefit, Body corporate, Book credit, Borrowing power, Brevet, Business, Business establishment, Buy, Care, Carry, Cartel, Cash credit, Certainty, Certitude, Chain, Chamber of commerce, Charge, Cheerful expectation, Claim, Closed-end investment company, Cocksureness, Combine, Commend, Commercial credit, Commercial enterprise, Commission, Commissioning, Commit, Commitment, Common, Compagnie, Company, Concern, Confide, Confide in, Confidence, Confidentness, Conglomerate, Conglomerate corporation, Consign, Consignment, Consolidating company, Consortium, Consumer credit, Contingent interest, Conviction, Copartnership, Corporate body, Corporation, Count on, Courage, Credence, Credibility, Credit, Credit insurance, Credit rating, Credit union, Credulity, Cure, Custody, Deem trustworthy, Delegate, Delegated authority, Delegation, Depend on, Dependability, Dependence, Deputation, Depute, Desire, Devolution, Devolvement, Diversified corporation, Doomed hope, Easement, Embassy, Empower, Empowerment, Enfeoff, Enterprise, Entrust, Entrusting, Entrustment, Equitable interest, Equity, Errand, Estate, Executorship, Exequatur, Expect, Expectation, Extend credit, Factorship, Fair prospect, Faith, Feel confident, Fervent hope, Firm, Full power, Give, Give credit, Give faith to, Give in charge, Give in trust, Give tick, Good cheer, Good hope, Great expectations, Group, Growth fund, Guardianship, Hand over, Harbor the hope, Have confidence in, Have faith in, High hopes, Hire purchase plan, Holding, Holding company, Hope, Hope against hope, Hope and pray, Hope for, Hope in, Hope to God, Hopeful prognosis, Hopefulness, Hopes, Hoping, Hoping against hope, House, Hubris, Industry, Infeudate, Installment credit, Installment plan, Interest, Investment company, Investment credit, Investment trust, Joint-stock association, Joint-stock company, Jurisdiction, Keeping, Lean upon, Legation, License, Lieutenancy, Limitation, Line of credit, Live in hopes, Load fund, Mandate, Mission, Monopoly, Mutual fund, Never-never, No-load fund, Nurture the hope, Office, Operating company, Overconfidence, Oversureness, Overweening, Overweeningness, Part, Partnership, Percentage, Place confidence in, Place reliance in, Plenipotentiary power, Plunderbund, Poise, Pomposity, Pool, Positiveness, Power of attorney, Power to act, Prayerful hope, Presume, Presumption, Pride, Procuration, Promise, Prospect, Prospects, Protection, Proxy, Public utility, Purview, Put faith in, Put trust in, Rating, Receive, Reception, Regency, Regentship, Relegate, Reliability, Reliance, Reliance on, Rely on, Rely upon, Remand, Remit, Repose, Repose confidence in, Repose in, Responsibility, Rest assured, Rest in, Right, Right of entry, Safekeeping, Sanguine expectation, Security, Self-assurance, Self-confidence, Self-importance, Self-reliance, Sell on credit, Set store by, Settled belief, Settlement, Stake, Stock, Stock company, Store, Strict settlement, Subjective certainty, Sureness, Surety, Suspension of disbelief, Swallow, Syndicate, Take for granted, Take on faith, Take on trust, Take stock in, Task, Tax credit, Think reliable, Tick, Title, Trade association, Trust implicitly, Trust in, Trusteeship, Trustworthiness, Use, Utility, Vested interest, Vicarious authority, Ward, Warrant, Well-grounded hope, Safe keeping, Keeping, Protection, Charge, Care, Custody, Have faith in, Place ones trust in, Put ones trust in, Have confidence in, Have every confidence in, Believe in, Pin ones faith on, Pin ones hopes on
How to use Trust in a sentence?
- I should never have trusted her.
- If you have a sizeable amount of money that you wish to leave a beneficiary after your death, it would be beneficial to place the monies into a testamentary trust fund that is payable upon execution of your established will.
- While they are generally associated with the idle rich, trusts are highly versatile instruments which can be used for a wide variety of purposes to achieve specific goals.
- All the great trusts of womanhood.
- My master lived on trust at an alehouse.
- A trust was set up.
- Each trust falls into six broad categories - living or testamentary, funded or unfunded, revocable or irrevocable.
- A trust is a fiduciary relationship in which a trustor gives another party, known as the trustee, the right to hold title to property or assets for the benefit of a third party.
- All persons are forbid to trust sailors.
- If you are wondering how she is able to travel so much and work so little at such a young age, it is because her parents set up a trust that provides for most of her living expenses.
- Relations have to be built on trust.
- He would himself use the language of Progressive era reform rhetoric to mold Storrow and those who supported him as men of money, monopolies and trusts.
- The workers put their trust in the manager, relying on him to make decisions, knowing they would have to follow him and the orders he gave.
Meaning of Trust & Trust Definition