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Introduction to the Florida Trust as a Planning Tool

Updated: Jun 30, 2021

J. Rubens Scharlack | Scharlack

A trust is a fiduciary relationship capable of separating the positive aspects of the property from its negative aspects.

A trust is a fiduciary relationship capable of separating the positive aspects of the property (use and perception of the economic benefit) from its negative aspects (duty of administration, custody and maintenance). This relationship begins when a person (settlor or grantor) transfers the legal ownership (legal title) of assets or rights to another person (trustee) for the benefit of one or more third parties (beneficiaries, who own equitable title).