A trust fund is a special type of legal entity that holds property for the benefit of another person, group, or organization. There are many different types of trust funds. There are also many different types of trust fund provisions that define how they work. Trust funds are fictional entities that are given life by the state legislature of the state in which the funds are formed. Certain states may offer more advantages than others depending on what the grantor is attempting to accomplish. Some states permit so-called perpetual trusts, which can last forever, while others forbid such entities for fear of creating another landed gentry class that results in future generations inheriting large amounts of wealth that the beneficiaries did not earn. One of the most popular provisions inserted into trust funds is the so-called «spendthrift» clause. Pursuant to this clause, the beneficiary cannot pledge the assets of the trust, or dip into them, to satisfy their debts.