“Trust” defined. “Trust” means an interest in property held by one person for the benefit of another, established by an instrument executed during the life of the settlor or by his will. The term includes an express trust, private or charitable, with additions thereto, wherever and however created. The term also includes a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust.
Last modified: February 25, 2006