A fundamental trust where the beneficiary gets assets inside the trust and the complete right to the capital, in addition to the income generated from these assets. Bare trusts are trusted by parents and grandparents to transfer assets to grandchildren or their kids. Trust assets are held in the name of a trustee, who gets the duty of managing the trust assets in a prudent manner in order to create maximum benefit. The trustee has discretion or no say in directing the income or capital of the trust and does not have any control over these assets. Also called a trust that was simple.