A trust is a legal arrangement that holds property for the benefit of someone else. To create a trust, you need to have a trustee or beneficiary.
Trusts can be used in estate planning to help manage assets and protect beneficiaries with their inheritance. Support may include traditional investments, such as stocks and bonds, business interests, or real estate.
Trusts, unlike wills, are private and not public. Assets in the trust avoid probate and provide direction for supporting support in incapacity.