"Trust assets" refers to money, property, or other valuable possessions held in a trust for the benefit of someone else. A trust is a legal arrangement where a person or organization (known as a trustee) manages these assets on behalf of another person (known as a beneficiary). The trustee has a duty to protect and manage the assets according to the terms of the trust document. The beneficiary can benefit from the assets in various ways as outlined in the trust, such as receiving income from investments or being granted ownership of certain properties.
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