Trust

A "trust" is a legal arrangement in which an individual, known as the trustee, holds property, assets, or income for the benefit of others, known as beneficiaries. The trustee is responsible for managing and safeguarding the assets according to the terms and conditions set out in a trust document or agreement. The primary purpose of a trust is to ensure that the property or income is used for the benefit of the beneficiaries, as specified in the trust's legal framework. Trusts are commonly used for estate planning, asset protection, and managing financial affairs in a structured and controlled manner.