What is a trust?
A trust is a legal arrangement in which someone (the ‘trustor’) grants another (the ‘trustee’) the right to hold title to property or assets for the benefit of a third party (the ‘beneficiary’).
Trusts are set up to offer legal protection for the trustor’s assets so they are distributed according to their wishes or to avoid/reduce estate taxes. The terms of the trust are specified in a ‘trust deed’ which outlines how and when the assets pass to the beneficiaries.
They’re commonly used during estate planning. This is done to safeguard family wealth or to control the family’s assets when the beneficiaries may not be willing or able to do so themselves.
How to set up a trust
There are a few types of trust, including:
Deciding which trust is right for you can be tricky; let us help you keep it simple and your interests represented.
