When a person draws up a Will, a clause is added for the protection of the interest of minors and other dependants who are not able to look after their own affairs. These types of trusts come into being only after the death of the testator.
The trust is administered by trustees appointed in terms of the Will, and is usually ended after a predetermined period or at a determined event like a minor turning 18 or the death of an income beneficiary.
Assets owned by the deceased may be moved to the trust, in terms of the Will. A testator appoints the trustees in his/her Will.