What is a Trust?

Trusts first came into being as a method of insuring that property would be managed and given to ones heirs, should the owner of the property die before the heirs were able to responsibly manage the property. To accomplish this, the property owner would transfer ownership of the property to a person he trusted. That person, the “Trustee”, would be required to care for and deliver the property per the provisions of a contract between the parties. In this way, a family’s wealth could grow from generation to generation.

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