Phrase: Sign something over in trust

[PeaceMaker]

Hi,

please guys, what does it mean when you say: "I signed that property to them in trust" ...In the other words, does "sign something over to someone in trust" mean "give someone something for free"?

thank you

PM

[Jamie (K)]

No, to sign something over in trust means to give another person the responsibility of administering something for you.

For example, in order to reduce corruption, many American politicians sign their savings (stocks, bonds, etc.) over to a trustee who takes care of them until they have finished their term of office. In that case, it's what is called a "blind trust", because the politician is not allowed to know what stocks or other investments he has during the time he is serving in office.

Some wealthy people sign some money or property over in trust to a bank or to some trustee, so that the bank or trustee can take care of it and manage it until their children are old enough to manage it themselves. We often create such trusts for young children.

When my father was too old to take care of his own affairs, his property was signed over in trust to me, so that I could manage his money and take care of his property for him.

[PeaceMaker]

Thanks Jamie!