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Estate Planning Law Office of Mary Alice Gwynn, PA
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What Are Trusts?

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Transcript

Sometimes they're referred to as a "Will Substitute". It's a legal agreement or contract how your assets are gonna be transferred, or taken care of, upon your disability or upon your death. Generally there's three people involved. The person making the trust, which is the settler or the granter. A trustee. The trustee is the individual or corporate entity that actually owns the asset within the trust, also controls that asset while it's in the trust. And then a beneficiary. That's the individual or corporate entity that's ultimately going to inherit that asset upon your demise.

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