> The trust is a legal device that is designed to protect assets and as such serves those who have assets, that is, the wealthy.^[Pistor, Katharina. <i>The Code of Capital: How the Law Creates Wealth and Inequality</i>. Princeton: Princeton University Press, 2019.] Trusts became popular in the nineteenth century when the middle class became richer. In addition to rural land, trusts began to hold a variety of assets, including government bonds and corporate shares. Trust law morphed from serving individual or family wealth, to shielding business assets. It was used by business owners in England and North America.^[Morley, John. “THE COMMON LAW CORPORATION: THE POWER OF THE TRUST IN ANGLO-AMERICAN BUSINESS HISTORY.” COLUMBIA LAW REVIEW 116 (n.d.): 54.] Trustees became professionalized, began to charge fees, and limited their liabilities towards beneficiaries. Eventually, courts entertained the possibility that beneficiaries could be more than one person, and could be a pool of different investors.