Purpose trust

Okay, so there's this thing called a purpose trust. It's like a special box that you can put money or things in, but it's not for any person. Instead, it's for a special reason.

Let's say you really love animals and want to help protect them. You can put some money in a purpose trust and designate that it can only be used for things like building animal shelters or saving endangered species.

The difference between a purpose trust and a regular trust is that a regular trust is made for a specific person and their needs, like paying for someone's college education or helping support them financially. A purpose trust is made for a specific purpose that doesn't benefit any one person directly.

So, think of it like a special box that you put money in, but the money can only be used to help something that you care about, like animals, the environment, or a specific cause. That's a purpose trust!