Blog Post
What Is a Trust?
John Tamboer
August 2, 2023
A trust is usually in the form of a written declaration or agreement. The purpose of a trust is to define the duties and responsibilities of a trustee to manage property owned by the trust. The trust may have several purposes, including management of assets for one or more beneficiaries, probate avoidance, or estate tax avoidance. The purpose and intent of the trust should be clearly defined. A trust may be revocable or irrevocable.
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