An arrangement whereby some or all of the assets of an estate are held by a trustee or multiple trustees for the benefit of the trust beneficiaries. This is a common arrangement in the case of children to ensure their assets are maintained until their age of majority. Trusts can also be set up prior to death in order to distribute assets over a long time period. Trusts can also be used to provide will beneficiaries with an ongoing income and can be a good way of ensuring the money isn’t spent too quickly.