The trust is becoming more popular as a tool in estate planning. The trust is a written agreement by which an owner of property (the trustor) transfers his title to a trustee for the benefit of persons called the beneficiaries. Both real and personal property may be placed in a trust. The trustee may be a person or persons, a corporation, or a combination of the two. A trust can continue for any period of time set by the owner–for a lifetime, until the youngest child reaches age 21, and so forth. If the trust extends beyond a lifetime, there are limitations that should be explained by your attorney. An important advantage of the trust is its flexibility. The trustee can be empowered to “sprinkle” or “spray” trust property among the beneficiaries as their respective needs may require; this feature especially accommodates the unpredicted emergency or misfortune that might arise. In addition, the trustor (settlor) may place numerous restrictions and requirements in the trust relative to the payments to be made to the beneficiaries. For example, the income earned by the trust, a fixed percent of the assets or part of the principal may be paid out each year. These requirements must be carried out by the trustee.