What are considered to be “trust assets”?

Trust assets refer to the property and investments that are held within a trust for the benefit of the beneficiaries. This includes a wide array of asset types, such as cash, stocks, bonds, real estate, and personal property. The key element is that these assets are specifically designated to be managed by the fiduciary according to the terms of the trust and for the advantage of the beneficiaries named in the trust document.

The broader categorization of trust assets is essential because it emphasizes that trusts can hold various types of investments and property, rather than being limited to cash or specific asset classes like real estate. This flexibility enables fiduciaries to manage and distribute wealth effectively across different forms of assets to meet the needs and intentions outlined in the trust agreement.