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What Is A Trust? - Fidelity A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries Trusts can be arranged in may ways and can specify exactly how and when the assets pass to the beneficiaries
TRUST Definition Meaning - Merriam-Webster 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
Will vs. Trust: What’s the Difference and Which Do You Need? Revocable living trust: This is the most common type You retain control of your assets during your lifetime and can change or cancel the trust at any time After you pass away, the trustee carries out the plan to transfer assets to your beneficiaries, avoiding probate—but this only happens through the trustee’s actions
Types of Trusts - FindLaw A trust is a legal document that creates a virtual container for money and property These assets are managed by a trustee (an institution or person) for the benefit of another (the beneficiary) However, there are different types of trusts, such as revocable, irrevocable, charitable, and testamentary trusts that provide different benefits
trust | Wex | US Law | LII Legal Information Institute 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