third-party trust

Definition of "third-party trust"
  1. A special needs trust that solely relies on assets donated by anyone other than the person benefiting from it
How to use "third-party trust" in a sentence
  1. Gifts from her family were used to establish a third-party trust for her future needs.
  2. In case of any unexpected circumstances, their son's well-being was secured by a third-party trust.
  3. To ensure their daughter's long-term care, they set up a third-party trust funded by relatives.

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