In estate planning law, a trust is an arrangement by which a person, persons, or organization (the trustees) own and manage money and/or property for the benefit of another. The Trust Creator (also called the grantor or settler) transfers his or her property, along with its benefits and obligations, to the trustees of his or her choice. The trustees must then hold the money or property for the benefit of those specified by the Trust Creator. These beneficial owners of the trust are appropriately called the Beneficiaries. There are many reasons to create a trust, including privacy, wills, tax planning, and asset protection, and because of this it is frequently used in estate planning.