What is a Trust and What Does it Do?

A Trust can describe many things, but for Estate Planning purposes the best way we describe a Trust is like this – a Trust is a private contract whereby one person (called the “Grantor”) creates an entity that will hold assets for the benefit of someone (called the “Beneficiary”).  The person who administers the entity is the Trustee. The Trustee will be forced to follow the terms and conditions of this particular Trust entity as laid out in the Trust Agreement for the benefit of the beneficiary or beneficiaries.

About Jesse Coyle

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Mr. Jesse T. Coyle is a licensed attorney in both North Carolina and Illinois, as well as a Certified Financial Planner™. Jesse has dedicated his career to helping all families navigate the complicated waters of estate planning and probate matters. Jesse and the members of Carolina Tax, Trusts & Estates are available for your call and would be pleased to assist you.

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