Trusts are used to transfer property that is to be held and managed for the benefit of another person or persons.

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Trusts are commonly used for estate planning and to manage assets for minors or individuals who may not have the capacity to manage their own assets. The person creating the trust, known as the grantor, transfers property to a trustee (often a professional or trusted family member) who then manages the property for the benefit of the trust's beneficiaries.

Trusts Are Used to Transfer Property That Is to Be