The overall concept of a Trust is simple. It is an arrangement that allows for a third party (i.e., Trustee), to hold assets on behalf of and for the benefit of another person or persons (a beneficiary or beneficiaries). A trustee might be appointed by someone to hold property in a family trust (also known as an inter vivos trust) or alternatively may be appointed in a person’s will (testamentary trust) to hold property and undertake duties in relation to it after a pers