Concept information
Preferred term
trusts
Definition
- A trust is a popular estate planning tool in common law jurisdictions, whereby property is legally held by one party, the trustee, for the benefit of another, the beneficiary. The beneficiary holds equitable title and is entitled to payments from the trust. [Source: The Social History of the American Family: An Encyclopedia; Trusts]
Broader concept
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Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/trusts
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