1. What is a Trust?

8 months ago Updated: 02 December 2022 Credit source:

In principle, a trust is a legal arrangement through which one person transfers the legal ownership of property to another to hold that property for the benefit of someone else. In this sense, there are three players in the trust relationship: trustor (a person transferring his/her property over for the benefit of the third party), trustee (a person to whom the trustor entrusts the property), and beneficiary (the person whom the property is to benefit). The trustee holds legal title and is responsible for managing and investing the trust property for the beneficiary in accordance with Trust Deed entered into between trustor and trustee.