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trust fund |
Also found in: Legal, Financial, Wikipedia | 0.03 sec. |
trust fundProperty (e.g, money or securities) held in a trust; that is, property held legally by one party (the legal owner) for the benefit of another party (the equitable owner). The legal owner, or trustee, has the right of possession and the right of use of the property, but must exercise those rights to the benefit of the equitable owner, or beneficiary. In Anglo-American law, trust funds are set up principally for family settlements and for charitable giving. In the commercial sector, trust funds are often set up to provide for employee pensions and profit-sharing programs. |
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| In August 1997, four respected leaders of the native Hawaiian community and a professor of trust law publically accused the Bishop Estate's trustees with gross incompetence and severe trust abuse, to the point of being criminal, in a statement titled "Broken Trust". One wonders whether the decision not to explain or take stances on key details of trust law and various jurists' counterintuitive decisions was intended to protect the reader from tedium, or reflects the enduring political potency of Broken Trust's many actors, including the reconstituted board of trustees. a principal of Napa-based Gaw, Van Male, Smith, Myers & Miroglio, and a certified specialist in estate planning, probate and trust law, and a certified elder law attorney |
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Trust law
