A trust is a legal arrangement where you give your assets (such as cash, property or investments) to someone else so they can look after them for the benefit of a third person.
They can be used as a way of protecting your wealth and maintaining its value for the benefit of others, as well as a way of protecting your assets for your own benefit, such as the impact on your personal tax affairs.
You can read more about trusts and the top ten things to consider before preparing a trust here.