Trust and foundations

Trusts and foundations are both ways to manage and protect assets for specific purposes. A trust is a legal arrangement where one party, the trustee, holds and manages assets for the benefit of others, known as beneficiaries. This can help with estate planning, tax reduction, and safeguarding assets. A foundation, often a nonprofit, is established to fund charitable activities or support a cause, typically using an endowment or contributions. Both structures can help ensure that assets are used according to the creator's wishes while providing financial support to individuals or causes over time.