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What are trusts?


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What are trusts?

Question: What are trusts?

Answer: A trust is a contract in which an individual has identified typically that they are leaving property for the benefit of their heirs. Within the trust document it will typically provide that certain property will pass to certain individuals and it controls when they receive it. The trust can also put restrictions on conditions that must be met in order for that property to be distributed to that beneficiary and then it also provides that in the end the distributions are made to that individual upon their death or a certain age.

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