Trust
A Trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary.
Benefits
A trust provides a safe way to manage and protect assets for beneficiaries.
Frequently Asked Questions
What is a trust quizlet?
A trust is a setup where assets are managed by a trustee for the benefit of someone else.
What is the definition of a trust?
A trust is a fiduciary arrangement where one party holds and manages assets for the benefit of another.
Is a trust a fiduciary?
Yes, a trust is a fiduciary setup where one party, the trustee, manages assets for another party, the beneficiary, with a duty to act in their best interest.
Key Takeaway
A trust provides a secure method to manage and protect assets for beneficiaries.