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 |
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