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Main Goals of a Trustĭifferent types of trusts will accomplish different goals.
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They must follow the terms of the trust document. The trustee cannot do whatever they want with the assets of the trust. However, the trustee still holds the title to the trust property. Once ownership of an asset is transferred to the trust, that asset belongs to the trust itself, not to the trustee. The person who sets up the trust and funds is called a grantor, trustor, or donor. These assets are managed by a trustee (an institution or person) for the benefit of another (the beneficiary). A trust is a legal document that creates a virtual container for money and property.