Trust
Categories: Ethics/Morals, Insurance, Trusts and Estates
An agreement in which one person manages another person's assets for the benefit of one or more other people.
Example
If Suzie McQ has a rich daddy, Daddy dearest might put some of his huge fortune in trust for Suzie until she is 21 and can handle her own cash. Until then, someone else will take care of the cash and act in Suzie's best interests.