A trust is basically a fiduciary agreement between the trustee and the grantor — that is the person who creates the trust. A fiduciary agreement involves one trusted person promising to act on behalf of another, solely for that person’s benefit. Based on the terms of the trust agreement, the trustee is given the authority to hold and manage the trust assets. It provides specific instructions as to how those assets should be managed and distributed when the time comes. Learn more about revocable and irrevocable living trust in this presentation
About Wes Gersh
Wesley Gersh is the founder of Gersh Law Offices, P.S.C., a law firm focused mainly on estate planning and administration, as well as elder law matters such as subjection for Medicaid and veterans’ benefits.