What exactly is a "Trust" and what's involved with it [and a will]?

Merlin

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Jan 18, 2006
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My Gran' has just passed away and I am being included in the legal process because I am the designated executor of my parents' will, so it makes sense to give me an overview...

It's gotten me thinking about my own situation.

I am aware that you can organise a will through your bank, if a lawyer is beyond one's means.

I am a collector of certain things and given some quick thoughts, I would like my collections to become the preserve of suitable museums when I am no longer around. It may be prudent to have more than one person oversee this, which, with my limited understanding, is where a Trust comes in, but what is it what's involved with one?

Thanks.
 
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