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English definition of “private trust”

private trust

noun [C]    
FINANCE, LAW a legal arrangement in which you give a person or organization the right to manage your money for the person or group of people that you have chosen to receive the money: create/set up a private trust We can advise you on the benefits of creating a private trust to protect your family's wealth for the next generation. → Compare public trust
(Definition of private trust noun from the Cambridge Business English Dictionary © Cambridge University Press)
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