What Is a Trusted?

A trust is a legal relationship in which the owner of property gives it to another person or entity who must keep and use it solely for a third party's benefit.

What is the main purpose of a trust?

Trusts are established to provide legal protection for the trustor's assets, to make sure those assets are distributed according to the wishes of the trustor, and to save time, reduce paperwork and, in some cases, avoid or reduce inheritance or estate taxes.

What is the meaning of being trusted?

a. Firm belief in the integrity, ability, or character of a person or thing; confidence or reliance: trying to gain our clients' trust; taking it on trust that our friend is telling the truth. b. The condition and resulting obligation of having confidence placed in one: violated a public trust.