TRUST MERGER
\tɹˈʌst mˈɜːd͡ʒə], \tɹˈʌst mˈɜːdʒə], \t_ɹ_ˈʌ_s_t m_ˈɜː_dʒ_ə]\
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Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust "merges" and ceases to exist.
By Oddity Software
Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].