Trusts: A Trust, by definition, is assets that are administered by one individual or entity for the benefit of another. Trusts are often set up for tax benefits or asset protection.  The are many variying are various forms of Trusts, a few of which are described briefly below:

A legal arrangement under which a grantor or settlor transfers real or personal property to a trustee or trustees under directions to the trustee, usually contained in a written trust instrument or agreement, to hold, manage, invest, account for and distribute the property to the beneficiary or beneficiaries on the terms set forth in the trust instrument.

Trustee - An individual or institution who is charged by the grantor or settlor with holding, managing, investing, accounting for and distributing property from a trust to the beneficiary or beneficiaries

There are various forms of Trusts, a few of which are:

• Revocable Living Trust (“RLT”)
  
• Irrevocable Life Insurance Trust (“ILIT”)
  
• Special Needs Trust (“SNT”) for children with special needs
  
• Advanced Healthcare Directive (”AHD”)

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