What is a Trust?

Wills, Probate, and Estate Planning

A trust is a legal entity that is created to hold assets, and direct what is done with the assets. There are different types of trusts. Trusts may be used to preserve assets and direct how the assets will be distributed to beneficiaries. Other trusts may be limited to a particular beneficiary if that person is incapacitated or not otherwise able to manage money and assets. Trusts may include provisions to pay educational, medical and other expenses for the beneficiaries.