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an arrangement among two or even more organizations to operate collectively illegally, for example to regulate prices:
[countable, uncountable] (law) an arrangement by which an organization or a bunch of people has legal control of funds or house that has been supplied to anyone, commonly right up until that person reaches a particular age; an amount of money or house which is controlled in this manner
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Every single trust falls into six broad classes—residing or testamentary, funded or unfunded, revocable or irrevocable.
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Preventing probate. Property in a revocable trust can bypass probate, some time-consuming court means of settling an estate. Assets that pass through probate develop into Portion of the general public file, so bypassing probate can be valuable if you prefer to help keep the main points in the trust non-public.