honorary trust

Definition of "honorary trust"
  1. A trust which is set up for a purpose that is not associated with charity work and doesn't list any particular beneficiary
How to use "honorary trust" in a sentence
  1. An honorary trust is often set up without specifying a beneficiary or a charitable purpose.
  2. The formation of an honorary trust does not require the dedication of assets towards a charitable cause or any specific recipient.
  3. Without stipulating a charitable objective or a specific beneficiary, an honorary trust can be established.

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