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A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries Explore trust basics, key roles, and the benefits provided by different types of trusts Trusts can be arranged in may ways and can specify exactly how and when the assets pass to the beneficiaries.
Each trust falls into six broad categories Learn more about what a trust is and how it works Living or testamentary, funded or unfunded, revocable or irrevocable
A trustor creates a trust with the help of an attorney
A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. A trust, sometimes called a trust fund or trust account, is a legal arrangement to ensure a person’s assets go to specific beneficiaries. A trust is a legal vehicle that allows a third party — a trustee — to hold and direct assets in a trust fund on behalf of a beneficiary. The meaning of trust is assured reliance on the character, ability, strength, or truth of someone or something
How to use trust in a sentence. A trust is a form of division of property rights and a fiduciary relationship, in which ownership of assets goes to a third party, known as a trustee, and the beneficial enjoyment goes to the beneficiary The person who transfers the property into the trust is known as the grantor or settlor. To believe that someone is good and honest and will not harm you, or that something is safe and reliable
To hope and expect that something…
In simple terms, a trust is a legal document that governs your wishes for how and when to transfer your assets, including sentimental items, to your loved ones or charitable organizations However, in practice, the landscape of trusts encompasses various types, terminology, structures, and tax rules, which can be perplexing.
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