Trusts

Trusts are legal arrangements that allow a person or organization (the trustee) to hold and manage assets for the benefit of another person or organization (the beneficiary). Trusts can be used for a variety of purposes, such as providing income to beneficiaries, protecting assets from creditors, and avoiding probate. The trustee is responsible for managing the trust's assets according to the terms set forth in the trust document. Trusts can also provide tax benefits and help ensure that assets are passed on to heirs in accordance with an individual's wishes.