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Trust

A trust is a legal arrangement that allows a person (the trustor) to transfer assets to a third party (the trustee) who holds those assets for the benefit of specific individuals (the beneficiaries). Trusts can serve various purposes, such as estate planning, asset protection, and tax benefits. They can be structured in different ways, including revocable trusts, where the trustor retains control over the assets during their lifetime, and irrevocable trusts, which cannot be altered once established.​