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A TRUST is a legal relationship created (in lifetime, or on death) by a SETTLOR when assets are placed under the control of a TRUSTEE for the benefit of a BENEFICIARY , or for a specified purpose.

The Oxford English Dictionary (OED) is widely regarded as the accepted authority on the English language. The OED dates use of the word " TRUST " in a financial sense from 1825

A trust allows you to be very specific about how, when and to whom your assets are distributed.

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