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Blind Trusts Often Necessary but Not Complicated

| Dec 11, 2017 | Uncategorized |

People in important government roles often use blind trusts.

Being a key political figure, President Trump has his assets in a blind trust which is actually a rather simple concept, according to the Wills, Trusts & Estates Prof Blog in “Shedding Light on Blind Trusts.”

Blind trusts are actually a fairly simple concept to understand.

A person, known as the settlor, creates the trust and puts assets into it. An independent person is appointed to oversee the trust as trustee. The trustee is normally a professional financial manager.

The trustee then invests the assets in the trust and does not tell the settlor anything about how those assets are invested.

Blind trusts are commonly used by people serving in important government roles as well as executives of large corporations.