A trust is a legal arrangement concerning the ownership and disposition of assets. The owner of the asset (the grantor) transfers legal ownership to a trust with another person or company serving as trustee.

The trustee is responsible for managing the assets for the benefit of particular people or institutions (the beneficiaries) according to the written terms and conditions of the trust document. In some trusts, the grantor is also a beneficiary.

Northwestern Mutual Wealth Management Company® can serve as trustee or successor trustee for a wide range of personal trust accounts.