American Heritage® Dictionary of the English Language, Fourth Edition
- n. A financial arrangement in which a person, such as a high-ranking elected official, avoids possible conflict of interest by relegating his or her financial affairs to a fiduciary who has sole discretion as to their management. The person choosing the trust also gives up the right to information regarding the status of the assets.
- n. a trust that enables a person to avoid possible conflict of interest by transferring assets to a fiduciary; the person establishing the trust gives up the right to information about the assets
“In young, childish, ignorant souls there is constantly this blind trust in some unshapen chance: it is as hard to a boy or girl to believe that a great wretchedness will actually befall them as to believe that they will die.”
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