Perhaps you have heard about trusts but wonder exactly what they are and what they can help you accomplish. Simply put, a trust is an agreement outlining how assets will be managed and held for the benefit of another person. There are many types of trusts, capable of addressing a wide range of concerns and accomplishing a number of important goals. Let’s begin our discussion by looking at the elements and terminology shared by most trusts. The Grantor All trusts have a grantor (also known as a trustor or settler). The grantor is the person who creates the trust and has the legal authority to transfer property held in the trust. The Beneficiary The beneficiary is the person who “benefits” from the trust. A beneficiary can be one person or a number of different parties. A beneficiary can also be an institution, such as a charity. The Trustee The trustee
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