Definition of trust
(Entry 1 of 2)
trust
verbDefinition of trust (Entry 2 of 2)
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Verb
Synonyms & Antonyms for trust
Synonyms: Noun
Synonyms: Verb
Antonyms: Noun
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First Known Use of trust
Noun
13th century, in the meaning defined at sense 1a
Verb
13th century, in the meaning defined at intransitive sense 1a
History and Etymology for trust
Noun and Verb
Middle English, probably of Scandinavian origin; akin to Old Norse traust trust; akin to Old English trēowe faithful — more at true entry 1
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Last Updated
16 Jan 2021
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Cite this Entry
“Trust.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/trust. Accessed 26 Jan. 2021.
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More Definitions for trust
trust
nounEnglish Language Learners Definition of trust
(Entry 1 of 2)
trust
verbEnglish Language Learners Definition of trust (Entry 2 of 2)
See the full definition for trust in the English Language Learners Dictionary
trust
verbKids Definition of trust
(Entry 1 of 2)
trust
nounKids Definition of trust (Entry 2 of 2)
trust
nounLegal Definition of trust
Note: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment.
Note: Accumulation trusts are disfavored and often restricted in the law.
— called also common-law trust, Massachusetts trust
Note: A trust that qualifies as a business trust is eligible for bankruptcy protection under chapter 13 of the Bankruptcy Code.
— called also bypass shelter trust, credit shelter trust, shelter trust
Note: The purpose of a bypass trust is to reduce the surviving spouse's taxable estate. Such trusts do not qualify for the marital deduction.
Note: Charitable remainder trusts qualify for tax exemptions under section 664 of the Internal Revenue Code.
Note: Unlike most trusts, a charitable trust does not require definite beneficiaries and may exist in perpetuity.
Note: Prior to the Tax Reform Act of 1986, a Clifford trust could be used to divert income from the settlor, who was in a higher tax bracket, to a beneficiary, often a child, who was in a lower tax bracket. A settlor is currently treated as the owner of any portion of a trust in which he or she has a reversionary interest, and taxes are calculated at the settlor's rate.
— called also trust de son tort, trust ex delicto, trust ex maleficio
— compare resulting trust in this entryNote: An honorary trust may be upheld where allowed by statute if its purpose (as for the care of an animal or grave) is sufficiently clear. An honorary trust is subject to the rule against perpetuities, however.
— called also living trust
— compare testamentary trust in this entry— called also Illinois land trust, naked land trust
— called also dry trust, naked trust
— compare active trust in this entryNote: A power of appointment trust made in accordance with Internal Revenue Code section 2056(b)(5) qualifies for the marital deduction.
— called also bank account trust, savings bank trust, tentative trust
Note: The shareholders transferring legal title to their shares retain the equitable title and continue to receive dividends and other distributions. They also receive certificates as evidence of their interest in the trust, which provides the holder with the rights of a shareholder except for voting rights.
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More from Merriam-Webster on trust
Thesaurus: All synonyms and antonyms for trust
Nglish: Translation of trust for Spanish Speakers
Britannica English: Translation of trust for Arabic Speakers
Britannica.com: Encyclopedia article about trust
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Time Traveler for trust
The first known use of trust was in the 13th century
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