What is a Trust, How is a Trust created, What makes it a Trust, basic definition of trusts
 BACK;   What is a Trust, How is a Trust created, What makes it a Trust, basic definition of trusts, J Jay Lashlee

WHAT IS A TRUST?

A trust can be created simply by doing a simple thing. An example would be a woman asking a friend to "hold her package" and give it to her husband when he arrives.

There are three positions to consider.

The maker of the agreement is the creator.

The person holding it is the trustee.

The beneficiary is the person that owns the package.

Nothing in the example would change the ownership of the package. The package would not be available for debts of the temporary holder.

 What is a Trust, How is a Trust created, What makes it a Trust, basic definition of trusts, J Jay Lashlee