A “Trust” is simply an agreement that will be enforced by law. It is much like a contract. A person creates a trust to purposely place valuable property in safekeeping either for themselves or for a loved one. There are many good reasons for doing this.

Typically, the trust allows a person to create the trust for his or her benefit while alive and then to allow the property to pass seamlessly to others, such as children or grandchildren or to charities. The person who creates the tru...