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Meaning of “private trust” in the English Dictionary

"private trust" in Business English

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private trustnoun [C]

uk   us  
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.
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(Definition of private trust from the Cambridge Business English Dictionary © Cambridge University Press)
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