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[ C ] a legal arrangement through which an individual or Business controls residence and/or money for an additional human being or Business:
The just one setting up a trust is known as the trustor or grantor. The a single who oversees and manages the trust is called the trustee. Inside of a revocable trust, the trustor may well Manage the trust too, but in an irrevocable trust, the trustee must be any person else.
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Tina Orem is definitely an editor at NerdWallet. Just before getting an editor, she coated tiny small business and taxes at NerdWallet. She has long been a economic writer and editor for over 15 trust bet many years, and she incorporates a degree in finance, as well as a master's diploma in journalism in addition to a Learn of Business Administration.
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Each individual trust falls trust bet into 6 wide types—dwelling or testamentary, funded or unfunded, revocable or irrevocable.
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