Estate and Trust

An estate (or decedent estate) is a legal entity created as a result of a person’s death. The estate consists of the real and/or personal property of the deceased person. The estate pays any debts owed by the decedent and distributes the balance of the estate’s assets to the beneficiaries of the estate.

A trust fund is a fund comprised of a variety of assets intended to provide benefits to an individual or organization. The trust fund is established by a grantor to provide financial security to an individual, most often a child or grandchild – or organizations, such as a charity or other non-profit organization.

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