A trust is a legal arrangement where one party (the trustee) holds and manages assets for the benefit of another (the beneficiary). Trusts can be used to control how and when assets are passed on after death.
Legal Reference:
Regulated under the Trustee Act 2000 and various case law precedents.
Testamentary trusts are created by a will and take effect after death.
Sources:
Wikipedia – https://en.wikipedia.org/wiki/Trust_law
Wikidata – https://www.wikidata.org/wiki/Q854022
Knowledge Graph – https://www.google.com/search?kgmid=/m/07mrj
DBpedia – http://dbpedia.org/resource/Trust_(law)
Product Ontology – http://www.productontology.org/id/Trust_(law)