Various estate planning tools are available to people looking to plan ahead. One of the most common estate planning instruments are trusts. A trust is a separate legal entity that will legally own possessions put into the trust account in Florida or in any other state. These assets are many times held on behalf of an intended beneficiary who cannot manage the assets for himself or herself.

When creating a trust, one will have to choose the person who will be in charge of managing the assets in the trust account….