De Re and De Dicto Trust

De re/de dicto distinction is a well-known concept that differentiates between properties of non-rigid designators and the properties of the objects that they refer to. The article proposes to apply this distinction to the notion of trust. The technical results are formal definitions of de re and de dicto forms of trust as modalities, the proof of the undefinability of these two modalities through each other, and a sound and complete logical system capturing the properties of the two forms of trust.