A trust fund is an umbrella term for a variety of entities established to legally own assets transferred to them by asset owners and be managed in accordance with the asset owners wishes (as laid out in a trust deed). Trust funds can be run by individual trustees, by specialised trustee companies or a combination of the two. Funds can be set up for a variety of reasons: to benefit minors or to manage assets of those suffering from mental incapacities. Trust funds are often established as estate-planning tools. If the asset owner dies, the trustees will ensure assets are transferred to beneficiaries in accordance with the trust deed. Trust assets can also be established such that assets can be transferred while the owner is still alive.