A trust is a legal entity, just like a corporation or an individual person. All trusts will have an exchange of property and three categories of people:
- The people who create it, called the grantors, or the settlers, or the trust-makers
- The people in charge of the trust, usually called the trustees
- The beneficiaries: the people who get the benefit of the trust
Devin and John go over the different types of trusts and when to use them.
For more information, visit the show notes at https://www.bigpictureretirement.net/108