A trust refers to a fiduciary relationship created to appoint one party to manage another party’s assets and property on behalf of a third party. This relationship is established between the creator of the trust (the grantor) and the trustee, who holds and administers the assets and property within the trust on behalf of the beneficiaries or the individuals or entities designated to receive the property. The trustee is appointed to fulfill the obligations of administering the trust while acting in the best interests of the grantor, the trust, and it’s beneficiaries. After creating a trust, the grantor is able to transfer assets into the trust or order that the trust is funded following their death. They can make one trust that contains all their assets to be distributed or set up different trusts for specific family members. To ensure these family members do not squander their inheritance, the grantor can stipulate restrictions for distributing the assets or outline conditions that must be met for the beneficiaries to receive their inheritance, such as getting married or reaching a certain age.