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What is a Trust?



A trust is a separate legal entity that owns assets for the benefit of a third person (beneficiary). A Trust is a tool used by an Estate Planning lawyer to plan a client’s estate. The Trustor of the Trust is the person who sets up and funds the Trust with property. The Trustee of the Trust is the person charged with keeping the Trust assets safe, invested properly, and finally distributing the Trust assets to the Beneficiary in accordance with the terms of the Trust. The Trustor sets and defines the rules of the Trust.  In doing so, the Trustor leaves directions to the Trustee on how the Trust property should be handled.

 

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Dale A. Arens is an Estate Planning and Probate attorney located in Encino, CA, specializing in trusts or living trusts, wills, power of attorney for financial affairs, advanced healthcare directives or living wills, and various transfer documents.