Express Trust for Dummies

Express Trust

Hey there, I know learning new words can be tough, but I'm here to help! Today, I want to talk to you about the term "express trust." It's a little bit complicated, but I'll break it down for you in a way that makes sense, okay? Express trust is a legal term that refers to a specific type of trust that is created intentionally and directly by someone, usually through a written document like a will or a trust agreement. When a person wants to set aside some money or property for the benefit of another person, they can do so by creating an express trust. It's like putting your belongings in a special box and giving someone else the key to open it when the time is right. Think of it this way - let's say you have a favorite toy that you want to share with your friend. You could give it to them and tell them it's theirs to keep, or you could put it in a special box and give them the key to open it whenever they want. That special box is kind of like an express trust - it's a way to set aside something for someone else in a formal and intentional way. So, when we talk about "express trust," we're talking about a specific type of trust that is created on purpose, usually through a written document, to make sure that someone else benefits from it in the future. It's like putting a plan in place to take care of something or someone that you care about, even when you're not around anymore. I hope that makes sense! If you have any more questions, feel free to ask at any time. Learning new things is a journey, and I'm here to help you along the way. Keep up the great work!