A trust is a legal agreement in which one person, known as the grantor, transfers ownership of certain assets to another person or entity, known as the trustee, to manage them for the benefit of a third party, known as the beneficiary.
The trustee is responsible for managing the assets according to the terms set forth in the trust and for the benefit of the beneficiary.
Trusts can be used for various purposes, such as asset protection, estate management, succession planning, investment fund management, among others. It is a legal tool that provides security and control in the administration of assets.
