Blind Trust Legal Meaning and Definition

Here is a simplified definition of the legal term Blind Trust.

Blind Trust (noun):

A blind trust is a legal arrangement where the owners (also known as trustors or settlors) give control of their assets to an independent trustee. While the trust owner still has the right to end the trust, they have no control or knowledge about how the trust's assets are managed. This setup is often used to prevent conflicts of interest in political or business settings.