Trust Law:

A Trust is a legal entity created to hold property, where the property owner called the Trustor, Grantor or Settlor, transfers legal ownership to the trust.

The trust is then managed by a professional or family member called a Trustee, for the benefit of another person called the Beneficiary.

Although Trust law is extremely complicated, in layman’s terms, a trust separates the legal ownership from beneficial usage, or User Rights from Property Rights.

This is done to protect assets from various claims such as lawsuits and tax agencies.

A foundation is a trust, although it deals more with corporations, whereas a Trust deals with families.