What is a Trust Agreement? A trust agreement is a legal document that allows the trustor to transfer the ownership of assets to the trustee to be held for the trustor's beneficiaries. While the trustee becomes the legal owner of the assets, the trustor retains equitable ownership of the assets. Trust agreements are created for many reasons:

May 16, 2024 · A trust agreement is often called a declaration of trust. It is a legal document that describes the terms and conditions of how a person’s valuable assets will be repositioned, protected, held, or managed in the case of death or incapacitation.

Mar 16, 2019 · At its most basic, a trust agreement defines the purpose of establishing the trust, the terms that must be fulfilled to terminate the trust and the full details of the assets placed in the trust. It also spells out what powers and limitations the trustees hold and what sort of provisions may affect them, as well as any compensation the trustees ...

A trust agreement is a document used by a truster to transfer ownership of assets to their trustee. Usually, the truster and their legal council will outline conditions for the trustee to follow in order to claim the aforementioned assets.

Feb 3, 2025 · A trust agreement is a powerful tool for managing and protecting assets, but its effectiveness depends on careful drafting and attention to detail. By understanding these five key parts, grantors, trustees, and beneficiaries can ensure the trust fulfills its intended purpose.