Trusts 101
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Trusts 101

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Questions and Answers

What is a Trust?

  • A legal structure where assets are controlled by the settlor
  • A legal structure where assets are controlled by the beneficiaries
  • A legal structure where assets are controlled by the government
  • A legal structure where assets are controlled by the trustees (correct)

    • Why might someone establish a Trust?

  • To have complete control over their assets
  • To protect their assets from creditors (correct)
  • To avoid paying taxes
  • To give away their assets to the government

    • Who owns the assets transferred to a Trust?

  • The Settlor
  • The Beneficiaries
  • The Trustees (correct)
  • The Government

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