Meaning of “private trust” in the English Dictionary

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"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.

(Definition of “private trust” from the Cambridge Business English Dictionary © Cambridge University Press)