A trust is a legally recognized arrangement in which property is transferred from someone (known as the grantor) to be managed by a trustee for the benefit of whomever the grantor designates. The three parties to the arrangement are the grantor, the trustee, and the beneficiary. The grantor transfers property to the trust to be managed by the trustee for the benefit of the beneficiaries. To learn more about these roles, follow the link below.
There are many types of trusts and many reasons why they are established. To learn more about the planning opportunities available with trusts, click below.