What is a trust document?

A trust document is a legal document that outlines the terms under which a property or asset is held in trust by one party, called the trustee, for the benefit of a person or group. This document is legally binding and provides the parameters for how the assets can be used and for whose benefit. In Washington, trusts are governed by the Washington Uniform Trust Code. This code provides guidance for trustees on how to manage a trust including how assets are to be managed, invested, and distributed. The code also outlines the duties of a trustee and the rights of beneficiaries of the trust. To create a trust, a trust document must be drafted. This document sets out the terms under which the trust will be operated. A trust document must be in writing and signed by the settlor, or person creating the trust. The document must also name the trustee and the beneficiaries of the trust. The trust document outlines the purpose of the trust, specific instructions on how the trustee is to manage the trust, the rights and duties of the trustee, the purpose of the trust and the beneficiaries’ rights to information or to object to trustee decisions. The trust document is an important legal document and must be carefully drafted to protect the interests of the settlor, the trustee, and the beneficiaries. It is essential that the document is well-written and legally sound. A trust document must be drafted by an experienced attorney who is familiar with Washington trust law.

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