Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun A trust in which a person places his or her investments or assets under the control of an independent trustee and is not advised as to the trustee's decision making regarding the investments or assets, so as to prevent the expectation of personal profit or benefit from influencing the person's actions.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun 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
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kbrookfi commented on the word blind trust
Blind trust, for me, is nothing to do with financial institutions. It implies implicit faith in an ideal or person. Blind trust is NOT rational and could make you fall for fraud and scams. Beware of to whom or what you give your blind trust. Foresight beats blind trust every time!
July 21, 2012