Legal Trust
/ˈliːɡəl trʌst/
Definitions
- (n.) A fiduciary relationship in which one party holds property for the benefit of another according to legal terms.
The legal trust allowed the beneficiary to receive income from the estate.
- (n.) An arrangement recognized by law to manage assets and properties by a trustee for beneficiaries.
The assets were transferred into a legal trust to ensure proper management.
Forms
- legal trust
- legal trusts
Related terms
See also
Commentary
Commonly used in estate and asset management contexts; clarity in drafting the trust instrument is crucial to avoid disputes over beneficiary rights and trustee duties.
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.