To understand trusts and their uses, the following terms are common:
A Trust is a legal contract where a Trustee (someone trustworthy, sometimes called a Fiduciary) agrees to take ownership of something and hold it for the benefit of another.
A Trustor is the founder of a trust (sometimes called Trust Maker or Grantor). A Trustor sets up a trust by choosing
Assets (sometimes called the Corpus) to be held for a
Beneficiary (the person or entity the Trustor chooses to receive the trust assets) and signing a
Trust Document telling how the Assets are to be handled and transferred to the Beneficiary. When those assets are transferred they are sometimes called Benefits.
Santa Fe Trust is a Chartered Trustee which means we have received authority from our State government to act in this role with all of the attendant regulation and oversight.