blind trust

blind trust

n.

A financial arrangement in which a person, such as a high-ranking elected official, avoids possible conflict of interest by relegating his or her financial affairs to a fiduciary who has sole discretion as to their management. The person choosing the trust also gives up the right to information regarding the status of the assets.

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blind trust

n

(Economics, Accounting & Finance / Banking & Finance) a trust fund that manages the financial affairs of a person without informing him or her of any investments made, usually so that the beneficiary cannot be accused of using public office for private gain

Thesaurus

Noun

1.

blind trust - a trust that enables a person to avoid possible conflict of interest by transferring assets to a fiduciary; the person establishing the trust gives up the right to information about the assets trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"