Trust

A relationship created at the direction of an individual, in which one or more persons hold the individual’s property subject to certain duties to use and protect it for the benefit of others. Individuals may control the distribution of their property during their lifetime or after their death through the use of a trust. A trust may be created for the financial benefit of the person creating the trust, a surviving spouse or minor children, or for charitable purposes. Trust arrangements that are intended to evade creditors or lawful responsibilities will be declared void by the courts.