trust fund

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trust fund

A young adult receives a statement about their trust fund.

Definition
  1. Noun:
    • A fund held in trust: A sum of money or other assets that are legally held and managed by one party (the trustee) for the benefit of another party (the beneficiary).
Usage
  • A trust fund is a legal and financial arrangement. It is typically created to provide financial security for a beneficiary, such as a child or grandchild. The assets in the fund are controlled according to the rules set out when the trust was established.
Examples
  • Noun:
    • Her grandparents set up a trust fund to pay for her college education.
    • The money from the inheritance was placed into a trust fund for the children until they turn 25.
    • He is the beneficiary of a large trust fund established by his parents.
Advanced Usage
  • "to have a trust fund": To be the beneficiary of such a fund.
    • It's rumored that she doesn't need to work because she has a trust fund.
  • "trust fund baby" (idiomatic/informal): A person, often perceived as privileged, whose wealth comes from a trust fund.
    • The article criticized the politician as an out-of-touch trust fund baby.
Variants and Related Words
  • Trust (n): The legal entity or relationship in which property is held by one party for the benefit of another.
    • The assets are managed under a family trust.
  • Trustee (n): The individual or institution that holds and manages the assets in a trust fund.
    • The bank acts as the trustee for the fund.
  • Beneficiary (n): The person who receives the benefits from the trust fund.
    • She is the sole beneficiary named in the document.
Synonyms
  • Endowment: A fund or property donated to an institution as a source of income (similar in concept but often for institutions, not individuals).
  • Estate: All the money and property owned by a person at death (a trust fund can be part of an estate plan).
Related Phrases
  • "To set up a trust fund": To legally establish a trust fund.
    • They decided to set up a trust fund for their newborn's future.
  • "Funds from a trust": Money distributed from a trust fund.
    • She used the funds from her trust to start a business.
trust fund

A young adult receives a statement about their trust fund.

Noun
  1. a fund held in trust