A trust is a legal entity in its own right. One or more people (the trustees) manage money or other assets (the trust property) for the benefit of others (the beneficiaries).
The monies/assets will have been placed in the trust by the settlor (sometimes also known as the grantor or the donor).
Trusts exist separately from other entities – such as estates or companies. They are a powerful way of defending your valuable assets from legal challenges in this fast-moving modern age.