Trust
Content
Definition
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.
Usage and Context
A trust is a legal setup where assets are held for someone by a trustee.
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.
Benefits
A trust provides a safe way to manage and protect assets for beneficiaries.
Conclusion
A trust provides a secure method to manage and protect assets for beneficiaries.
