De-Facto Trust

A third-party who has gone beyond simply aiding the trusteeA person who stands in a fiduciary relation to another, having been given legal title to someone else’s property for the benefit of a third party., but has instead taking control of, and actively manages, assets belonging to the trustAn arrangement in which property interests are legally held by one person (the trustee) at the request of another (the settlor) for the benefit of a third party (the beneficiary)..