Trust law
When an owner of property places that property into trust, he or she turns over part or all of his or her rights to the trustee. This separates the property's legal ownership and control from its settlor's ownership and benefits. This controls the property and its benefits if the settlor is absent, incapacitated, or dead. Trusts are frequently created in wills, defining how money and property will be handled for children or other beneficiaries.