Overall, a trust agreement allows directors to control their wealth. Because of the flexible precision potential of the agreement, the Trustor defines the conditions for asset allocation with great specificity. This makes a trust agreement particularly advantageous if the beneficiaries are not well experienced in asset management or if the agent wishes to protect the estate from creditors. A trust is created by a settlor who transfers the property of an agent, who then owns the property in trust for the benefit of the beneficiaries.  The Trust depends on the conditions under which it was created. In most jurisdictions, this requires a contractual trust contract or contractual agreement. It is possible that one person will play the role of several of these parties and that several people share a unique role. [Citation required] In a living trust, for example, it is customary for the Grand-Porteur to promote both trustees and life, while citing other beneficiaries of events. [Citation required] While the agent has a legal right to the trust, the agent must, upon acceptance of the property, a number of fiduciary obligations to the beneficiaries.
Priority obligations include the duty of loyalty, the duty of care and the duty of impartiality.  Agents may be kept in their cases at a very high level of diligence to impose their conduct. To ensure that recipients receive their royalties, directors are subject to a series of ancillary obligations in support of primary tasks, including openness and transparency tasks, as well as registration, accounting and advertising obligations. In addition, an agent has a duty to know, understand and respect the conditions of trust and law in this matter. The agent may be compensated and reimbursed, but must also deduct all profits from fiduciary real estate. Most directors have a particular knowledge of trusts and investments. On the other hand, many beneficiaries of this kind of thing are not familiar. This particular knowledge is another characteristic of the fiduciary-recipient relationship, which makes an agent an agent. An agent must provide the recipient with honest reports and inform the recipient of all matters relating to the trust fund. A basic trust agreement identifies the name of trust and establishes a declaration of trust.