trust > define

noun

• Something (as property) held by one party (the trustee. for the benefit of another (the beneficiary))
  • usage: "he is the beneficiary of a generous trust set up by his father"
• Certainty based on past experience.
  • usage: "he wrote the paper with considerable reliance on the work of other scientists"; "he put more trust in his own two legs than in the gun"
  • synonyms: reliance
• The trait of believing in the honesty and reliability of others.
  • usage: "the experience destroyed his trust and personal dignity"
  • synonyms: trustingness, trustfulness
• A consortium of independent organizations formed to limit competition by controlling the production and distribution of a product or service.
  • usage: "they set up the trust in the hope of gaining a monopoly"
  • synonyms: corporate trust, combine, cartel
• Complete confidence in a person or plan etc.
  • usage: "he cherished the faith of a good woman"; "the doctor-patient relationship is based on trust"
  • synonyms: faith
• A trustful relationship.
  • usage: "he took me into his confidence"; "he betrayed their trust"
  • synonyms: confidence

verb

• Have confidence or faith in.
  • usage: "We can trust in God"; "Rely on your friends"; "bank on your good education"; "I swear by my grandmother's recipes"
  • synonyms: swear, rely, bank
• Allow without fear.
• Be confident about something.
  • usage: "I believe that he will come back from the war"
  • synonyms: believe
• Expect and wish.
  • usage: "I trust you will behave better from now on"; "I hope she understands that she cannot expect a raise"
  • synonyms: hope, desire
• Confer a trust upon.
  • usage: "The messenger was entrusted with the general's secret"; "I commit my soul to God"
  • synonyms: entrust, intrust, confide, commit
• Extend credit to.
  • usage: "don't trust my ex-wife; I won't pay her debts anymore"

• (n.) A business organization or combination consisting of a number of firms or corporations operating, and often united, under an agreement creating a trust (in sense 1), especially one formed mainly for the purpose of regulating the supply and price of commodities, etc.; often, opprobriously, a combination formed for the purpose of controlling or monopolizing a trade, industry or business, by doing acts in restraint or trade; as, a sugar trust. A trust may take the form of a corporation or of a body of persons or corporations acting together by mutual arrangement, as under a contract or a so-called gentlemen's agreement. When it consists of corporations it may be effected by putting a majority of their stock either in the hands of a board of trustees (whence the name trust for the combination) or by transferring a majority to a holding company. The advantages of a trust are partly due to the economies made possible in carrying on a large business, as well as the doing away with competition. In the United States severe statutes against trusts have been passed by the Federal government and in many States, with elaborate statutory definitions.
• (n.) An equitable right or interest in property distinct from the legal ownership thereof; a use (as it existed before the Statute of Uses); also, a property interest held by one person for the benefit of another. Trusts are active or special, express, implied, constructive, etc. In a passive trust the trustee simply has title to the trust property, while its control and management are in the beneficiary.
• (n.) To place confidence in; to rely on, to confide or repose faith, in; as, we can not trust those who have deceived us.
• (v.i.) To sell or deliver anything in reliance upon a promise of payment; to give credit.
• (n.) The condition or obligation of one to whom anything is confided; responsible charge or office.
• (n.) To give credit to; to sell to upon credit or in confidence of future payment; as, merchants and manufacturers trust their customers annually with goods.
• (n.) To hope confidently; to believe; -- usually with a phrase or infinitive clause as the object.
• (n.) Assured resting of the mind on the integrity, veracity, justice, friendship or other sound principle, of another person; confidence; reliance; reliance.
• (n.) Credit given; especially, delivery of property or merchandise in reliance upon future payment; exchange without immediate receipt of an equivalent; as, to sell or buy goods on trust.
• (n.) Assured anticipation; dependence upon something future or contingent, as if present or actual; hope; belief.
• (n.) To commit, as to one's care; to intrust.
• (n.) That which is committed or intrusted to one; something received in confidence; charge; deposit.
• (n.) to show confidence in a person by intrusting (him) with something.
• (n.) That upon which confidence is reposed; ground of reliance; hope.
• (a.) Held in trust; as, trust property; trustmoney.
• (n.) To risk; to venture confidently.
• (n.) To give credence to; to believe; to credit.
• (v.i.) To have trust; to be credulous; to be won to confidence; to confide.
• (v.i.) To be confident, as of something future; to hope.
• (n.) An organization formed mainly for the purpose of regulating the supply and price of commodities, etc.; as, a sugar trust.
• (n.) An estate devised or granted in confidence that the devisee or grantee shall convey it or dispose of the profits, at the will or for the benefit, of another; an estate held for the use of another; a confidence respecting property reposed in one person, who is termed the trustee, for the benefit of another, who is called the cestui que trust.

When you create a' Trust', you transfer money and/or other assets to the trust. You give up ownership of those assets in order to accomplish a specific financial goal or goals, such as protecting assets from estate taxes, simplifying the transfer of property, or making provision for a minor or other dependents. When you establish the trust, you are the grantor, and the people or institutions you name to receive the trust assets at some point in the future are known as beneficiaries. You also designate a trustee or trustees, whose job is to manage the assets in the trust and distribute them according to the instructions you provide in the trust document.