A trust is a binding arrangement under which a person gives money or property 'upon trust' to another person or persons, who are known as 'trustees'.
The trustees use the trust fund for the benefit of an individual or group of individuals, who are known as 'beneficiaries'. The trustees then have to look after the trust fund for the beneficiaries. These arrangements are usually set out in a trust deed that you make before you die, or in your will, which means the trust will start on your death.
- Order the Mencap booklet ‘Leaving money in trust' which has more information about setting up a trust