A trust is a legal entity created by a person known as the trustor, grantor, or settlor who owns assets (cash, stocks, bonds, real estate, art, jewelry, machinery, etc.) and transfers ownership of the assets to the trust—while directing a person or entity known as the trustee to hold and manage the assets for the benefit of a certain person or persons, or classification of persons (descendants) known as the beneficiary or beneficiaries. The assets or property in a trust are sometimes referred to by the Latin word res (pronounced “rays”).

Beneficiaries are often descendants or heirs of the trustor, grantor, or settlor, but in some states (and other countries) the trustor, grantor, or settlor may be the beneficiary—and in that case the trust is known as a self-settled trust.

A trust is generally created when a trustor, grantor, or settlor shows or manifests an intent to create a trust by signing or executing a written trust agreement that is also signed by the trustee.

In Georgia, a trust is established when an individual, known as the trustor, grantor, or settlor, expresses the intention to create a trust by executing a written trust agreement, which must also be signed by the trustee. The trust agreement details how the trustor's assets, which can include a wide range of property such as cash, stocks, real estate, and personal items, are to be managed and held by the trustee for the benefit of designated beneficiaries. These beneficiaries can be descendants, heirs, or any other persons or classes of persons specified by the trustor. Georgia law also permits the creation of self-settled trusts, where the trustor themselves can be the beneficiary of the trust. Trusts in Georgia are governed by the Georgia Trust Code, which outlines the duties of trustees, the rights of beneficiaries, and the rules for administering trusts. It is important for trustors to comply with these legal requirements to ensure that the trust operates as intended and provides the desired benefits to the beneficiaries.