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newsfeedback@fool.com (Jaclyn McClellan, CFA), The Motley Fool
Mon, 09/24/2018 - 4:20pm

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?

Topics: i i trusts assets trustee settlor hold owners

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