What is Trust?
A relationship where property is held by one party for the benefit of another party. A trust is created by the owner, also called a "settlor", "trustor" or "grantor" who transfers property to a trustee. The trustee holds that property for the trust's beneficiaries.
Further Reading
For more detailed information, see our related Wills Trusts And Estates terms:
Pass the Bar, Guaranteed
BarPrepHero Premium offers the most complete collection of real bar exam questions licensed directly from NCBE (the organization that writes the exam).