What exactly is a trust? Basically, it is an estate that arises from a contract involving three key parties: the settlor who creates it, the trustee responsible for managing it, and the beneficiaries who benefit from the agreement. All of this with a well-defined purpose from the beginning.

Now, many confuse this with a will, but there are important differences. While a will is a document that only takes effect after death, a trust functions as an active mechanism during the creator's lifetime. The trustee manages the assets continuously according to the terms of the contract, protecting the interests of the beneficiaries without the need to wait for future events.

This structure is quite useful in financial and estate contexts.