Charitable Trust
/ˈtʃærɪtəbl trʌst/
Definitions
- (n.) A trust established for purposes deemed charitable under law, benefiting public interests such as education, relief of poverty, or religion.
The donor created a charitable trust to fund scholarships for underprivileged students.
- (n.) A fiduciary arrangement wherein property is held and managed by a trustee to carry out charitable purposes.
The charitable trust manages the donated funds to support local hospitals.
Forms
- charitable trusts
Related terms
See also
Commentary
A charitable trust always serves a public benefit and usually qualifies for tax-exempt status; clarity in defining the charitable purpose is critical to enforceability and recognition by courts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.