A trust, often known as a living trust, is a legal arrangement in which one person, the trustee, holds property for the benefit of another, the beneficiary. This arrangement enables asset management and protection while guaranteeing that they are dispersed in accordance with the grantor's preferences. In the Philippines, creating a Trust or getting a Deed of Trust entails a number of stages and considerations. Photo by Daria Obymaha Types of Trusts 1. Living Trust (Inter Vivos Trust): This type of trust is established during the grantor's lifetime and provides for asset management while the grantor is still alive. It might be revocable (changeable) or irrevocable (unchangeable). 2. Testamentary Trust: This trust is created through a will and takes effect after the grantor's death. 3. Charitable Trust: Charitable trusts are created to benefit a certain charity or the broader public. Benefits of Trusts 1. Asset Management refers to the professional management of assets. 2. Tr...

Police are questioning two individuals in connection with the death of an 11-year-old child who was reportedly participating in a hazardous TikTok challenge. A 25-year-old man has been arrested and a 35-year-old woman has been interviewed in connection with Tommie-lee Gracie Billington's death on March 2. Billington lost consciousness and died during a sleepover in Lancaster. Photo: facebook.com/unpixs An inquiry discovered that Tommie-lee had breathed poisonous substances, which are thought to be part of a dangerous fad known as "chroming," in which people inhale chemicals such as paint, solvents, aerosol cans, and cleaning products to achieve a short-term high. This procedure can have serious health consequences, such as heart attacks and asphyxia. Lancashire Police detained a man from Lancaster on suspicion of child cruelty, neglect, cocaine possession with intent to supply, and money laundering. He has been released on bail awaiting further investigations. The woman, ...