The period of time of the trust depends on the selection of your trust s legal jurisdiction. That s to say, that your trust must have an end. Selection of your trust's Jurisdiction in the United States or outside the United States depends on the degree of risk to be assumed by you. Judgments are generally not enforceable outside the United States. The more complicated you make it, the more complicated it is to administer.
Simplicity is the key.
Trust assets may include, your personal residence, your investment account, other real estate, your business, limited only by your valuable assets you wish to contribute to your trust. The trust generally obtains a federal identification number and files it s own tax return. Distributions to beneficiaries, may or may not be taxable, depends on the nature of the underlying assets. Your business partners would more likely ask for a complete copy of the trust agreement and they would have their attorney look it over. As a consequence, most will not do business with a trust, but they will do business with other recognized legal entities such as a Limited Liability Company, Corporation, Partnership, etc. for which the trust may own.