Module 1 - What is a trust Flashcards
1
Q
Define Trust
A
Fiduciary relationship in which one person (entity) is the holder of title to property
2
Q
who/What does Grantor do?
A
Grantor gives property to trust which benefits beneficiaries
3
Q
Who is trustee
A
Holds title for the benefit of another (beneficiary)
4
Q
What is the beneficiary
A
benefits from the trust property
