How to Create a Private Trust A Step-by-Step Guide
A Private Trust is a legal arrangement where assets are held and managed by a trustee for the benefit of designated beneficiaries. Unlike public trusts, which are often open to the public or broader groups, a private trust is typically established by an individual or family to manage personal wealth, protect assets, and ensure their proper distribution according to specific wishes. It can serve various purposes, such as estate planning, tax optimization, and asset protection, providing greater privacy and control over how assets are distributed after death or during a person's lifetime.
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