In what document is a trust typically established?

A trust is typically established through a trust agreement, which is a legal document that outlines the terms and conditions of the trust. This document includes essential details such as the identity of the grantor (the person creating the trust), the trustee (the individual or institution managing the trust), the beneficiaries (those who will benefit from the trust), and the specific assets being placed into the trust.

The trust agreement serves as the foundational document that governs the trust’s operation, including how and when distributions should be made to the beneficiaries and the duration of the trust. It is vital for ensuring that the intent of the grantor is clear and legally enforceable, which is why it is considered the primary document for establishing a trust.

Other options, such as a fiduciary agreement, typically refer to agreements involving a fiduciary's responsibilities and obligations but do not establish the trust itself. A trust dissolution document pertains to the process of terminating a trust, which is the opposite of establishing one. A financial statement does not relate to the creation of a trust and is more about summarizing the financial position of an individual or organization. Thus, the trust agreement is the correct and most relevant document for setting up a trust.