Legal Question in Constitutional Law in Arkansas
trust
buying property and would like to put it in a trust name!
Can you give me some information on what exactly is a trust!
Asked on 5/03/07, 2:21 pm
1 Answer from Attorneys
Harvey Harris
Harris Law Firm
Re: trust
A trust is a legal entity that basically owns whatever property is put in the trust. There has to be a Trustee to take care of the property. There are different types of trusts - revocable, irrevocable, pour over, and more. It depends on why you need a trust as to what type you need.
There is a lot more to trusts, but that is a beginning.
Answered on 5/03/07, 11:46 pm
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