Trust Agreement Finance Definition
A trust fund is a special type of legal person that holds property for the benefit of another person, group or organization. There are many different types of trust funds and many provisions that define how they work. A non-profit trust is a trust that has a charitable or non-profit organization as its beneficiary. In normal cases, this type of trust would be established during the trustee`s lifetime and, after his death, it would be distributed to a charity or organization at the choice of the trustee, in order to avoid or reduce inheritance or gift tax. A non-profit trust could also be part of a normal trust in which the children or heirs of the Trustor will receive a portion of the trust after their death, while the rest of the estate will go to the charity. .
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