What is a trust?
Q: What is a trust?
A: A trust is a legal relationship where an owner transfers property to a trustee for the benefit of another party or parties.
Q: Who creates a trust?
A: The owner, also known as a "settlor," "trustor," or "grantor," creates a trust by transferring property to a trustee.
Q: Who benefits from a trust?
A: The beneficiaries of a trust are the parties who benefit from the property held by the trustee.
Q: Where do trusts primarily exist?
A: Trusts primarily exist in common law jurisdictions.
Q: How long have trusts been in existence?
A: Trusts have been in existence since Roman times.
Q: What is an offshore trust?
A: An offshore trust is a conventional trust that is formed under the laws of an offshore jurisdiction.
Q: What is the role of the trustee in a trust?
A: The trustee holds the property transferred by the owner for the benefit of the trust's beneficiaries.
