A trust in which a fiduciary third party has total discretion to make investments on behalf of a beneficiary while the beneficiary is uninformed about the holdings of the trust.
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
an arrangement where financial holdings of a person are placed in the control of a fiduciary, typically to avoid a conflict of interest
a trust managed by a disinterested trustee who has complete discretion to purchase and sell assets held by the trust
A trust in which the trustees are enjoined from providing any information to the beneficaries about the administration of assets of the trust.
A trust set up by a settlor who cannot assert any power over the trust other than the right to terminate the trust. The trust is administered without any accounting to the beneficiary/settlor or allowing him the retention of any other measure of control over the trust's administration.
A trust in which the trustees are not allowed to provide any information to the beneficiaries about the administration of the assets of the trust.
When a third party, such as an investment adviser or other trustee, has complete control of the assets held in a trust, it is called a blind trust. Elected officials often set up blind trusts to reassure the public that political decisions are not being made for personal financial benefit, since the officials have given up control over how their investments are being managed, or even what those investments are.
A trust set up by a settlor who reserves the right to terminate the trust but other than that, agrees to assert no power over the trust, which is administered without account to the beneficiary/settlor or the retention of any other measure of control over the trust's administration. In Canada, for example, it is common for government ministers to vest all their investment property to a blind trust to avoid any conflict of interest. Bona vacantia Property that belongs to no person, and which may be claimed by a finder. In some states, the government becomes owner of all bona vacantia property.
An established trust whereby the beneficiary does not have any specific information regarding the amount, type or management of the assets contained in that trust.
A blind trust is a trust in which the executors or those who have been given power of attorney have full discretion over the assets, and the trust beneficiaries have no knowledge of the holdings of the trust. Blind trusts are generally used when a trustor wishes to keep the beneficiary unaware of the specific assets in the trust, such as to avoid conflict of interest between the beneficiary and the investments. Politicians often place their assets in blind trusts to avoid public scrutiny and accusations of conflicts of interest when they direct government funds to the private sector.
