What is a Trust?

A trust is a legal arrangement for the transfer of property by a grantor to a trustee for the benefit of a beneficiary.     There are many types of trusts to consider, each designed to help achieve a specific goal.   With the current high federal estate tax exemption, the purpose of a trust today is more about retaining control over assets during the grantor’s life and upon the grantor’s death than creating an estate tax saving plan.

https://www.fidelity.com/viewpoints/personal-finance/reasons-to-consider-a-trust