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[ C ] a legal arrangement through which someone or Group controls property and/or revenue for an additional particular person or Business:
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The trust's beneficiaries are individuals who gain from the trust, along with the trustee ensures that the beneficiaries are compensated.
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Each trust falls into 6 broad types—living or testamentary, funded or unfunded, revocable or irrevocable.
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The disadvantages of trusts are that they call for time and cash to make, and they can't be conveniently revoked.
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