Related Definitions
What is a Trust?
A legal agreement that grants a third party, or fiduciary, the authority to hold and manage assets for the beneficiaries of an estate.
A legal arrangement in which a grantor transfers assets to a trustee, who manages and administers those assets for the benefit of designated beneficiaries. Trusts can be established for various purposes, including estate planning, asset protection, and charitable giving. Trusts can be revocable (allowing the grantor to modify or dissolve the trust) or irrevocable (restricting changes after establishment). They provide flexibility in asset management and can help avoid probate while ensuring privacy and control over asset distribution.
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Insights and advice on trust and probate estate litigation from our blog.
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