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What is a Trust?

A trust is an agreement between the Grantor, of maker of the Trust, and the Trustee, or person that manages the assets in the trust for the benefit of the Grantor. A Living Trust is normally funded with the Grantor’s assets, and the Grantor serves as the Trustee. Such a trust is revocable which means the Grantor can withdraw any of the trust assets at any time, or completely revoke the trust at any time.