Trusts are an effective legal mechanism for transferring wealth, which is why Lawrina's real estate guides cover them in-depth.
A trust is a legal arrangement in which a person or entity, called the Settlor, transfers specific assets to a Trustee to manage and distribute to Beneficiaries according to specific terms and conditions.
Trusts can be set during the Settlor's lifetime but also upon death. They are commonly used to protect assets from creditors, reduce taxes, and generally facilitate estate planning.