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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 Learn what a trust is, how it works, types of trusts and how to set up a trust. 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 A trust lets a trustee hold assets on behalf of a beneficiary or beneficiaries Living or testamentary, funded or unfunded, revocable or irrevocable

A trustor creates a trust with the help of an attorney

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 legal vehicle that allows a third party — a trustee — to hold and direct assets in a trust fund on behalf of a beneficiary. A trust, sometimes called a trust fund or trust account, is a legal arrangement to ensure a person’s assets go to specific beneficiaries.

The grantor, who creates the trust The trustee, who manages the trust assets And the beneficiaries, who receive the trust assets Trusts can be used for a variety of purposes, including estate planning, tax planning, asset protection, and charitable giving.

Read about the process of creating an express trust, types of express trusts, and other types of trusts such as constructive and resulting trusts.

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.

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