For people to successfully work together and build relationships, they need to have a high degree of trust in one another.
A trust is a fiduciary arrangement in which the beneficiary, or second party, benefits from the property or assets held in title by the trustee on behalf of the trustor, or first party.
Trusts are created to ensure that the assets of the trustor are legally protected, to ensure that the assets are transferred in accordance with the trustor's desires, to save time, decrease paperwork, and, in some situations, to avoid or minimize inheritance or estate taxes. A trust in finance can also be a specific kind of closed-end fund established as a public limited company.
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