On Friday, May 7th at 8 a.m. EST, Mr. Steven Berger discusses what a Trust is and what it's for.

A Trust is a set of rules on how your property is to be taken care of, distributed and who can use it. It related to death and disability most commonly.

The grantor, trustor or settler is who owns the property and puts it into the trust. The Trustee is legal owner of property. The Beneficiaries are who can use the trust property. Trust property is what’s put into the Trust.

A revocable trust is one that can be revoked while the Trustor is still living. An Irrevocable trust can’t be changed and has its own ta identification number. A Trust divides property ownership into different segments.

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