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Trusts — what are they and do I need them?

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Answer:  In very simple terms, a trust is an arrangement for someone else to carry out your wishes.

 If you want a fuller legal definition, try this one I got off that fount of legal wisdom, the Internet: “In common law legal systems, a trust is a relationship in which a person or entity (the trustee) has legal control over certain property (the trust property or trust corpus), but is bound by fiduciary duty to exercise that legal control for the benefit of someone else (the beneficiary), according to the terms of the trust and the law.”

 Makes you want to go out and hug a lawyer, doesn’t it?

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