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A trust is a legal arrangement involving a settlor who creates the trust, a trustee who manages it, and beneficiaries who receive benefits. The fiduciary relationship ensures that the trustee acts in the best interest of the beneficiaries, who hold equitable ownership rights, while the trustee retains legal ownership and management powers. This structure facilitates asset protection and estate planning, enabling efficient wealth distribution and management according to the settlor's wishes.
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Trust – Grundstruktur: Settlor Trustee(„Treu-händer“) Beneficiary= cestui que trust(Begünstigter) fiduciary relationship legal ownerpower of management(Aktionsberechtigung) equitable ownerright of enjoyment(Vermögensberechtigung)