A trust is a legal relationship where one or more persons transfer property to a trustee to hold and administer for the benefit of beneficiaries. While it is not strictly a legal entity, a trust is easily thought of like a company. The maker of the trust (sometimes known as the “Settlor” or “Trustmaker”) conveys money or property to a Trustee (like the CEO) who administers the assets of the trust for the benefit of the beneficiaries (like the stockholders). Trusts can be created for a number of purposes including tax savings, privacy, creation of unique or special estate plans, holding specific assets (such as real estate, art or a firearms collection) or simply because they offer the Settlor a level of certainty that other types of estate planning may not. The creation of trusts can be more complex than traditional wills and are not appropriate for every client.