Trust (law)

Trust, in law, is like a special box that people put their things in to keep them safe. The owner, or the person in charge of the box, can decide what goes in the box and who gets to use it. This person is called the trustee.

The people who give their things to the trustee are called beneficiaries. They give their things to the trustee to take care of it while they cannot. For example, a parent might put their child's money in the trust until the child is grown up and can take responsibility for it.

Trustees have a duty to take care of the things in the box, and they have to use their best judgement to make sure that the things stay safe. They have to keep the beneficiaries' interests in mind, and if they do not do a good job, they can get in trouble.

When the time is right, the trustee gives the things back to the beneficiaries. They can decide when that is, but often it is when the beneficiaries reach a certain age or achieve a certain goal.

Trusts can be very complicated, but thinking of them as special boxes can make them a little easier to understand.