A trust is the legal means by which one person, the settlor, can give his property to another person, the trustees, to look after on behalf of yet another individual, or set of individuals who are called the beneficiaries.
A trust is a way of giving property to others without giving them full immediate control over it. The key point to remember is that a trust is not simply another piece of paper; it gives rise to a number of rights and obligations, and cannot be terminated by simply throwing away the documentation.
Learn the role of the settlor, trustee and beneficiaries and the legal implications of trust to understand when you might choose to use one.
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