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What is a “trust”?

A trust is a legal relationship by which one person or entity holds title to property for the benefit of another person or entity. In most trust relationships, the terms of the trust are set out in a written document called a trust instrument. Trusts are set up for many purposes. Except for testamentary trusts, most trust instruments are not filed with a court.

Testamentary trusts are trusts written into wills. Testamentary trusts often provide for property management of a child’s inheritance until the child reaches a certain age and sometimes also provide for children or adults with disabilities who may lose government need-based benefits if they own property in excess of certain amounts.

Estates Will Probate

This information applies to All Counties in North Carolina.

Source: https://www.nccourts.gov/help-topics/wills-and-estates/estates

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