Trusts

In common law legal systems, a trust is a relationship whereby property (including real, tangible and intangible) is managed by one person (or persons, or organizations) for the benefit of another. A trust is created by a settlor who entrusts some or all of their property to people of their choice (the trustees).

A trust is governed by the terms written in the trust instrument which is created by the settlor and signed by both the settlor and the trustee(s). Some trusts are testamentary, literally meaning "trust in a will", some are oral and some trusts are court ordered. Whatever the case, trusts can be very complicated documents available in many forms, for all kinds of situations. To ensure the protection of both the settlor and trustee make sure to have a lawyer draft your trust instrument.