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Video: What are trusts?

Trusts are agreements between multiple parties, designed to manage assets for an individual. Each trust has three parties, a settler, a trustee, and a beneficiary. Trusts can have other parties to the transaction, but usually, there's the three major parties to it, the settler, the person that creates it, the trustee, the person who manages it, and the beneficiary, the person or persons who eventually benefit from the trust.