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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
Trusts | Definition, How It Works, Types, Benefits, Drawbacks Trusts are an essential tool in managing and protecting assets, and it's crucial to understand how they work Trusts are essential for estate planning They help ensure that assets are distributed according to the grantor's wishes and can help avoid the time-consuming and expensive probate process
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
What Is a Trust? - Northwestern Mutual A trust lets a trustee 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
What Is a Trust? - Dominion At its simplest, a trust is a fiduciary arrangement that lets some third party – called the trustee – hold assets on behalf of one or more beneficiaries, taking legal ownership of those assets The trustee can be a person or a company, though it’s normally the latter