Trust beneficiaries

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The beneficiaries of a trust are the individuals that the trust is set up to benefit. In many situations the beneficiaries do not have control over the trust. It is controlled by a custodian that follows the rules by which the trust was formed. In this way, beneficiaries can benefit from the trust without having direct access to the trust's assets. This provides asset protection because obligations of the beneficiaries cannot be used to get a judgement against the trust's assets--at least not directly.