TrustFunds

Lifestyle

A Step-by-Step Guide to Setting Up a Trust Fund

Understanding the Basics of Trust Funds Before setting up a trust fund, it’s important to have a basic understanding of what a trust is and how it works. A trust is a legal arrangement in which a trustee manages assets for the benefit of the trust’s beneficiaries. There are two main types of trusts: revocable trusts and irrevocable trusts. A…