Trusts - Elements, Types, and Determination

The video tutorial explains the concept of a trust, a legal construct used primarily in estate planning to manage assets for a third party's benefit. It details the roles of the settler, trustee, and beneficiary, and discusses the legal and equitable rights associated with trusts. The tutorial also covers different types of trusts, such as living, testamentary, revocable, and irrevocable trusts, highlighting their uses and characteristics.

In what ways can assets be distributed from a trust to beneficiaries?

How can the rights of beneficiaries be categorized in relation to a trust?

What is the difference between a revocable trust and an irrevocable trust?