CHARITABLE TRUST Meaning and
Definition
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A charitable trust refers to a legal structure that is set up to operate for charitable purposes. It involves the transfer of property or assets to be held and managed by trustees in order to benefit a specific charitable cause or organization. The main objective of a charitable trust is to perform acts of philanthropy and promote the welfare of individuals or the community at large.
Charitable trusts are typically established through a formal declaration or a trust deed, which outlines the intentions, objectives, and guidelines for the trust's operation. They may be created during an individual's lifetime or after their death through a testamentary provision in a will. The trust is managed by trustees who have a fiduciary duty to ensure that the charitable objectives are achieved.
The beneficiaries of a charitable trust are usually the charitable organizations or the individuals that the trust is intended to benefit. These beneficiaries may include educational institutions, hospitals, orphanages, relief organizations, research foundations, or any other public interest or welfare organizations.
Charitable trusts are subject to specific legal regulations and requirements, often including tax exemptions or benefits for the donor. In many jurisdictions, there may also be oversight and reporting obligations to ensure that the trust is operating in accordance with its stated charitable purposes.
Overall, charitable trusts play a crucial role in facilitating and promoting philanthropy by allowing individuals to create a lasting impact and contribute to the betterment of society.
Common Misspellings for CHARITABLE TRUST
- xharitable trust
- vharitable trust
- fharitable trust
- dharitable trust
- cgaritable trust
- cbaritable trust
- cnaritable trust
- cjaritable trust
- cuaritable trust
- cyaritable trust
- chzritable trust
- chsritable trust
- chwritable trust
- chqritable trust
- chaeitable trust
- chaditable trust
- chafitable trust
- chatitable trust
- cha5itable trust
Etymology of CHARITABLE TRUST
The word "charitable" has its origins in the Latin word "cāritās", meaning "love, affection, or charity". It is derived from the Latin verb "cārī", which means "to dear" or "to hold dear".
The term "trust" comes from the Old Norse word "traust", which means "confidence" or "belief". It eventually evolved into the Middle English word "truste", indicating a "reliance on the integrity, strength, ability, or character of someone or something".
When combined, "charitable trust" refers to a legal entity established through a trust instrument, where funds or assets are entrusted to a trustee for the purpose of charity or philanthropy.
Similar spelling word for CHARITABLE TRUST
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