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Mr. Rybolovlev created a trust for his two daughters to buy the property, which stretches across about 6 acres and 475 feet of the Atlantic Ocean.
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In some situations, such as where the deceased left minor or incompetent survivors, a court may create a trust for such persons' benefit, even if the deceased did not do so.
Similarly, if you create a trust for the child, the trust document must state that the property will be turned over to the recipient by his or her 21st birthday.
Now comes Alaska, which lets you create a trust for your own benefit that is immunized from creditors' claims;again, provided you weren't trying to defraud known creditors.
Say your will creates a trust for your infant daughter that will pay her college and graduate school expenses but doesn't give her the rest of the cash until she's 30.
They also created a trust fund for the property, a fund to be dipped into in case of calamity.
Snyder's own attorney general, Republican Bill Schuette, said in June that "the health crisis in Flint has created a trust crisis for Michigan government, exposing a serious lack of confidence in leaders who accept responsibility and solve problems".
Ms. Helmsley did what Doris Duke and others before her have done, and created a trust to care for her pet.
Mr. Wagoner also earned credit for negotiating a new contract last year with the United Automobile Workers union that reduced wages for new hires and created a trust to administer health care costs for retirees.
In 1998 Mr. Soros and his wife created a trust called the Paul & Daisy Soros Fellowships for New Americans, which provides grants to immigrants for graduate study; the endowment eventually totaled $75 million.
But out of the public eye lawyers in a handful of key cases began negotiating around a 1994 amendment to federal bankruptcy law that lets firms settle litigation by creating a trust fund for victims.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com