family trust

Popular Terms
Trust designed to allow a parent to transfer assets to his or her children directly and prevent assets from being automatically inherited by a spouse.

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If you are really rich you may set up a family trust that will have all of your assets o to those in your family that you want to receive them.
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My parents had set up a family trust account for me and my sister, so we would have some money in the future, which made us happy.
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The family trust ensured the legacy of success and living well would be passed on to the next generation which made us happy.
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