Trusts are estate-planning tools, and like other estate-planning structures (like foundations or life insurance), a trust's structure will determine how assets are controlled, whether they're protected from future creditors' claims, and how they're taxed.A trust is created by a "settlor" (or grantor) who transfers assets to a trustee. The trustee must then hold and manage the assets for the benefit of the beneficiaries.Pretty wordy, right?