A trust is a legal arrangement in which a trustee holds assets on behalf of beneficiaries according to the terms specified in a trust document. Trusts can help individuals avoid probate, protect and manage their assets, minimize estate taxes, and ensure controlled distribution of wealth to heirs or charitable causes.

Trust administration is the process where a trustee manages and distributes the assets within a trust according to its terms. This involves a range of duties including inventorying the trust’s assets, paying any debts and taxes, and distributing the remaining assets to the beneficiaries.

Probate is the legal process through which a deceased person's will is validated, their assets are identified, debts are settled, and property is distributed to beneficiaries under court supervision. It ensures that the deceased's wishes are carried out, creditors are paid, and properties are transferred.