charitable trust
Học thuậtThân thiện
Definition
Noun: A legal arrangement in which property or assets are held and managed by one or more trustees for the benefit of a charitable, religious, educational, or scientific purpose, rather than for private individuals.
Usage
A charitable trust is a specific type of trust established to provide ongoing support for a designated public benefit cause. The trustees are legally obligated to manage the assets according to the trust's terms and for its stated purpose.
Examples
- Noun:
- The foundation operates as a charitable trust dedicated to funding medical research.
- She left her estate to a charitable trust that supports local schools.
Advanced Usage
- "to establish/set up a charitable trust": The formal process of creating this legal entity.
- They decided to establish a charitable trust to ensure their philanthropic work would continue.
- "trustee of a charitable trust": Refers to the individual or institution responsible for managing the trust.
- As a trustee of the charitable trust, her duty is to oversee the scholarship fund.
Variants and Related Words
- Charitable foundation (n): An organization, often structured as a trust or corporation, established to support charitable activities. While similar, a foundation can have different legal structures.
- Trust (n): The broader legal concept of a fiduciary relationship where one party holds property for the benefit of another.
- Endowment (n): A fund or asset donated to an institution, often held in a trust, where the principal is kept intact and the investment income is used for operations.
Synonyms
- Philanthropic trust: A trust created for the purpose of promoting human welfare.
- Public trust: A trust created for a public or charitable purpose.
Related Phrases
- In trust for charitable purposes: A legal phrase describing how assets are held.
- The land is held in trust for charitable purposes.
- Charitable purpose trust: A more technical legal term for a trust with a charitable objective.
Noun
- a trust created for charitable or religious or educational or scientific purposes