What is a trust deed?

A trust deed is a legal document used to create a trust in Washington state. A trust is a legal agreement between two or more parties, where one party (known as the trustee) holds and manages assets or property for the benefit of another party (known as the beneficiary). In a trust deed, the trustee agrees to manage and protect assets on behalf of the beneficiary, and use the assets to fulfill certain purposes (as described in the deed). The trust deed will typically outline the rights and responsibilities of both the trustee and beneficiary, such as how the money will be managed, how the money can be used, and when it must be distributed. In Washington, trust deeds are commonly used in the area of Trusts and Estates law to protect family assets and ensure the assets are managed and distributed according to the wishes of the trustor—the party who creates the trust. A trust deed will often contain instructions on how assets should be divided in the event of the death of the trustor or a beneficiary, or if the trustor declares bankruptcy. Trust deeds are a powerful legal tool and are an important part of Trusts and Estates law. They can reduce estate taxes, protect assets from creditors, and simplify transfers of property between family members.

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What is a trust deed?

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