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a authorized arrangement by which somebody or Business controls residence or income for the advantage of Yet another person or Group:Precision. Trusts need particular language to become lawfully valid. When the phrases aren’t apparent, an individual could problem the trustee afterwards in courtroom.Living trusts could be revocable or irrevocable.
A previous Model of this informative article didn't effectively distinguish among The prices of revocable and irrevocable trusts.These examples are from corpora and from resources on the internet. Any opinions from the illustrations tend not to signify the opinion from the Cambridge Dictionary editors or of Cambridge University Push or its licensor