Legal   A handy legal reference for laypersons to decipher lawyer jargon.

#ABCDEFGHIJKLMNOPQRSTUVWXYZ

what is...
TRUST
A legal instrument allowing one party to control property for the benefit of another. A trust is established by one person (the grantor or settlor) for the benefit of another (the beneficiary). A third person (the trustee) or the grantor manages the trust.
ALSO SEE: TESTAMENTARY TRUST, GRANTOR OR SETTLOR, SPENDTHRIFT TRUST, IRREVOCABLE TRUST, SPRINKLING TRUST, BENEFICIARY, FIDUCIARY

The information provided herein is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered.

    Courtesy of the Legal Glossary
    Copyright © 2006 by 20/20 Technologies