A Trust is a legal arrangement in which a trustee holds and manages assets for the benefit of another person (the beneficiary). The person who establishes the Trust is known as the grantor. The purpose of a Trust can vary, but it often serves as a way to manage assets, reduce taxes, and provide for loved ones. The terms of the Trust are outlined in a written agreement, and the trustee has a legal obligation to manage the assets in accordance with those terms.
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