A trust is a contract that specifies the terms in which a party is to control property or assets for the benefit of others, known as beneficiaries. The party or person in charge of the trust is known as the trustee. There are a variety of reasons and benefits to create trusts in Florida and elsewhere. One real estate company is attempting to reorganize itself into a real estate investment trust to avoid paying certain corporate taxes. Trusts can be a great way to protect assets from being taxed in certain ways as well as providing the trust holder control over the trust during his or her lifetime, and then a smooth transition of the property or assets in the trust to its beneficiaries after the trust holder passes….