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a fiduciary relationship in which one person (the trustee) holds the title to property (the trust estate or trust property) for the benefit of another (the beneficiary).

Definition:  A trust is a legal relationship in which property is managed by one person or entity for the benefit of another.  The property can be real, tangible and/or intangible. A trust is created by a settlor (in the United States, the settlor is also called the trustor, grantor, donor or creator), who entrusts some or all of their property to people of their choice (trustees in the US). The trustees hold legal title to the trust property (or trust corpus), but they are obliged to hold the property for the benefit of one or more individuals or organizations (the beneficiary) according to the trust documents. 

Types of Trusts
A/B Living Trust
 Living Trust
Bypass or By-pass Trust
 Survivor Trust
Constructive trust.
 Dynasty (Generation Skipping) Trust
Express trust.
 Fixed trust
Hybrid trust
 Implied trust
Incentive trust.
 Inter vivos trust (or living trust).
Irrevocable trust
 Offshore trust
Private and public trusts.
 Protective trust
Purpose trust
 Resulting trust
Revocable trust.
 Secret trust
Simple trust.
Special trust.
Spendthrift trust i
 Standby Trust or Pourover Trust.
Testamentary trust or Will Trust
 Unit trust







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