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- A trust is a legal arrangement123in which:
- A trustor gives a trustee the right to hold title to and manage property or assets for the benefit of a beneficiary2.
- The trustor separates the ownership of assets from their possession and management3.
- The trustor's assets are placed into the trust, which becomes the legal owner3.
- The trust is established to provide legal protection for the trustor's assets and ensure they are distributed according to their wishes2.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.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 greatly expands your options when it comes to managing your assets, whether you’re trying to shield your wealth from taxes or pass it on to your children.www.bankrate.com/investing/what-is-a-trust/In a trust, a party known as a trustor gives another party, the trustee, the right to hold title to and manage property or assets for the benefit of a third party, the beneficiary. Trusts can be established to provide legal protection for the trustor’s assets to ensure they are distributed according to their wishes.www.investopedia.com/terms/t/trust.aspA trust is a legal arrangement in which you separate the ownership of your assets from the possession and management of those assets. You put assets into a trust, which becomes the legal owner of the money or property transferred into it. You name a beneficiary who the assets are intended to benefit.www.forbes.com/advisor/legal/estate-law/how-set-… What Is a Trust? How It Works, Types, Benefits
Feb 12, 2024 · A trust, sometimes called a trust fund or trust account, is a legal arrangement to ensure a person’s assets go to specific beneficiaries.
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