Frequently Asked Questions
What is a Trust?
A trust is a fiduciary relationship that is created with respect to property or assets. It is a basic concept where one or more persons manage property or assets for the benefit of others. The person that creates the trust is known as the "Settlor" or "Grantor". The person who manages the Trust is known as the Trustee. The persons for whom the Trust is created are known as the Beneficiaries. An Asset Protection Trust is aptly named because a Settlor who transfers assets into a trust can by the design and location of the trust achieve a higher level of protection than other devices may offer.
|
