Cupertino Trusts

Cupertino, CA. Trusts

Defining a Trust

A trust is an agreement under which money or other assets are held and managed by one person for the benefit of another. Different types of trusts may be created to accomplish specific goals. Each kind may vary in the degree of flexibility and control it offers.

The common benefits that trust arrangements offer include:

• Providing personal and financial safeguards for family and other beneficiaries;
• Postponing or avoiding unnecessary taxes;
• Establishing a means of controlling or administering property; and
• Meeting other social or commercial goals.

Creating a Trust

Certain elements are necessary to create a legal trust, including a trustor, trustee, beneficiary, trust property and trust agreement.

The person who provides property and creates a trust is called a trustor. This person may also be referred to as the "grantor," "donor" or "settlor."

The trustee is the individual, institution or organization that holds legal title to the trust property and is responsible for managing and administering those assets. If not designated by name, a trustee will be appointed by the court. In some cases, a trustor can serve as the trustee. It is also possible for two or more trustees to serve together, or for both an individual and an organization to act as co-trustees. Separate trustees may also be named to manage different parts of a trust estate.

See Also:

Cupertino Estate Planning
Cupertino Probate

Cupertino Trusts

Cupertino Wills

Disclaimer
We gladly provide the materials on this web page for informational purposes only. The information provided is a summary of important California related information, does not represent a complete discussion of the topics covered, does not relate to any particular person, entity, situation or occurrence, and does not constitute the formation of an attorney-client or other professional relationship.

The information provided does not constitute advertising, a solicitation, or legal advice. If you need assistance with a legal issue, you should seek advice from a licensed attorney in your state of jurisdiction. Kramer Radin, LLP expressly disclaims all liability relating to actions taken or not taken based on any or all materials on this web page.