A trust is a legal arrangement where a trustee holds assets on behalf of beneficiaries. Trusts are commonly used for estate planning and asset protection.
1,300+ monthly searchesTax Classification
Varies (grantor, simple, or complex trust)
Ownership Structure
Beneficiary-owned with trustee management
Liability Protection
Yes
Complexity
High
Asset protection from creditors
Probate avoidance
Privacy (trusts don't become public record)
Flexibility in asset distribution
Tax planning opportunities
Continuity of asset management
Create a trust document
Obtain an EIN from the IRS (for non-grantor trusts)
Fund the trust with assets
Maintain separate trust accounting
File annual trust tax returns (Form 1041)
Comply with state trust laws
Estate planning, asset protection, multi-generational wealth transfer
Start your Trust Entity application today and get your EIN in as little as 4 hours.