What is a trust?
A Trust is a well recognized type of legal entity which is used to hold legal title to property for the benefit of one or more persons. The person creating the Trust is often known as the Trust Creator or Grantor. The person or institution holding legal title to the property is called the Trustee. The persons who are intended to benefit from the Trust are known as Beneficiaries.
A trust is a legal entity created by a person (grantor) to hold property for the benefit of designated beneficiaries. Under a trust, property is actually transferred into the name of the trust and the trustee is charged with the responsibility to manage the trust assets and income for the benefit of all beneficiaries.
A trust is a separate legal entity that is created by a written agreement. A trust agreement is normally drafted by an experienced trust attorney. The agreement provides a framework for how your assets are to be managed. A trust can be very beneficial in managing assets today and controlling the disposition of assets to heirs in the future.
A Trust is a legal entity whereby property is held for the benefit for an individual or individuals to be administered according to the specific terms of the Trust by the appointed Trustee. You can select when the Trust terminates, such as when the Beneficiary becomes a certain age or upon the Beneficiary’s death.
