What Is A Trust And How Does it Work?

By: Undisputed Legal Inc./Court Service Department

A trust is a legal instrument used to hold and manage real property and tangible or intangible personal property, for example, antiques (tangible personal property) or the right to royalty payments (intangible personal property). Putting stuff in trust transfers it from your private ownership to the ownership of a legal entity called a “trust,” which holds the property for your benefit or the benefit of anyone else you might name. Upon transfer, the law looks at these assets as if the trust owned them. Many trusts are set up in wills and take effect upon death. Others can be established while you are still alive. 

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