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What is a trust?
A trust is a legal arrangement in which property is transferred to a trustee to hold and manage for the benefit of another-the beneficiary-under what is termed a fiduciary relationship. A trustee can be either an individual or a corporation, such as a bank, and is responsible for administering and investing the assets in the trust. The terms of the trust are governed by a written document that the creator of the trust- the grantor- executes when the trust is established.

Trusts can accomplish the following objectives:
Minimize estate taxes and preserve wealth
Control when, how and to whom assets are distributed
Reduce the unexpected costs of probate
Provide ways to pay an estate's tax bill
Keep your affairs private
Provide a vehicle for investment growth