Private trust

Private trust – this term is used in the area of Trusts and Probates, where it details a trust, established at the direction of an individual, in benefit and in favor of concrete private individual, and not in public benefit. In the private trust one or more individuals hold the person’s property, subject to certain duties to use and protect it in benefit of other person. This trust consists of four necessary elements: a will for creation of the trust, a subject matter, and two figures – trustee and beneficiary. A synonym is “express trust”.

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