Trust is basically a document involving the transfer of ownership of property and assets from the grantor (the original owner of the assets and property) to the Trustee (the person who manages assets, attorney, accountant, friend, or anyone else not related to caregivers by blood and marriage) to benefit (the person who will receive the full benefit of assets, family, friends, favorite charities and organizations, the list is not restricted).
Trust planning is also known as trust funds or an irrevocable trust, in which the grantor has control and access to the property and or assets. If the giver wants to have control over the assets, it will be canceled and subject to the discretion of the court.
Image Source: Google
Trust means the plan in which you intend to take care of the welfare of your family and estate. On the other hand, this type of planning can also be referred to as estate planning. You have to pay attention to all the details. Small things can increase costs for you and for your family. When planning your estate, after including small things like a sofa or a grandfather clock, make sure you include a specific recipient. Most people spend more money on an asset then its worth. Planning should involve asking each member what they want.