JMP Minis: What a Trust Really Is

Most people hear the word trust and immediately think of billionaires, trust fund babies, and inherited fortunes. But what if a trust is much simpler than that? In this episode of the Just Money Podcast, Advocate Eliot Ngugi and entrepreneur Matu Kihato break down what a trust actually is and why it may be one of the most misunderstood tools in personal finance. Matu shares his experience as a beneficiary of the trust established by his grandfather, the late Njenga Karume, while Eliot explains the legal foundations behind trusts, trustees, beneficiaries, and trust deeds. In this conversation, we discuss: • What a trust really is • How trusts work in practice • The role of trustees and beneficiaries • Why trusts are not only for the wealthy • The difference between a trust and a trust fund • How trusts help preserve wealth across generations • Why succession planning matters more than most people think A trust is not just about money. It’s about creating a structure that protects people, assets, and opportunities long after you’re gone. Whether you’re building a business, raising a family, or thinking about legacy, this conversation offers a practical introduction to one of the most powerful wealth-planning tools available. WATCH THE FULL VIDEO: https://youtu.be/6IoTx89XpQM