Trusts
A trust is an agreement under which money or other assets are held and managed by one person for the benefit of another. Different types of trusts may be created to accomplish specific goals. Each kind may vary in the degree of flexibility and control it offers.
The common benefits that trust arrangements offer include:
- Providing personal and financial safeguards for family and other beneficiaries;
- Postponing or avoiding unnecessary taxes;
- Establishing a means of controlling or administering property; and
- Meeting other social or commercial goals.
