A trust is a means to take care of loved ones (beneficiaries) who are unable to do so for themselves, such as minors, mentally incapacitated or disabled dependants. There are also those who require assistance to manage money and assets.
Trusts are also used to protect growth assets such as property and shares from growing in one's personal name, to minimise taxation. However, a trust must be carefully considered and implemented to avoid unnecessary taxes and costs defeating its intended purpose.