declaration of trust

Definition of "declaration of trust"
  1. A written document that establishes a trust and outlines the responsibilities of the trustee and the rights of the beneficiaries, typically signed by the person creating the trust
How to use "declaration of trust" in a sentence
  1. He signed the declaration of trust, officially assigning his assets into the trust.
  2. The declaration of trust explicitly mentioned the terms of distribution to the beneficiaries.
  3. Before setting up the trust, one needs to prepare a detailed declaration of trust.
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