charitable trust

A trust created to benefit a specific charity, specific charities, or the general public rather than a private individual or entity.

• Charitable trusts are often eligible for favorable tax treatment.

— Also termed public trust; charitable use. See charitable deduction under DEDUCTION; CY PRES. Cf. private trust. [Cases: Charities 1; Internal Revenue 4048; Taxation 241.1(2), 876(1), 1022. C.J.S. Charities §§ 2–3; Taxation §§ 279, 329–333, 1713, 1876.]

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