An arrangement where money or property is managed by one person, persons, or organization for the benefit of another, but is owned by the trust. The person creating a trust is the settlor. The people chosen to manage the trust are the trustees.

The trustees are the legal owners of the trust property, however they have to be committed to taking care of the property for the benefit of the beneficiary of the trust. The settlor usually identifies the beneficiary, who is the "beneficial" owner of the trust.

Control of the trust is determined by the trust document. The document is usually written and documented with a legal instrument called a deed. Deeds grant a right.

Some common purposes for trusts:

• Wills and Estate Planning
• Charities
• Pension Plans
• Asset Protection
• Tax Planning.

Are you considering a trust? Need guidance, call us - (239) 461-0101.

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