Express Trust (Noun)
Meaning
A trust created by the free and deliberate act of the parties involved (usually on the basis of written documentation).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The wealthy philanthropist established an express trust for the benefit of her grandchildren through a carefully drafted will.
- Express trusts are used frequently by individuals to manage the distribution of their assets after death.
- To create a valid express trust, the grantor must clearly state their intention to do so and identify the beneficiary.
- The parents set up an express trust to hold their child's inheritance until they reached the age of 25.
- The express trust was formed when the business partners signed a written agreement outlining the terms of their partnership.