What Is a Legal Trust? Common Purposes, Types, and Structures
Typically, a trustee, who is not the beneficiary, manages the trust. However, you lose the flexibility to manage and control these assets. Once you establish it and transfer your assets into it, you can’t change or dissolve it without the consent of the beneficiaries. The grantor, having transferred assets into the trust, effectively removes all of his or her rights of ownership to the Certified Public Accountant assets and the trust. Because...