Trusts are becoming an increasingly popular way of protecting property and managing assets. A trust may also have some tax benefits for you.
A trust is created when a person, called the settlor, transfers property to people known as trustees. Trustees are obliged by law to use the property for purposes that the settlor specifies. Usually, one of these purposes is to make payments from the trust property to people called beneficiaries.
The parties who will benefit from the trust and the way in which the property is to be dealt with is usually set out in a document known as the trust deed. Trusts can also be created by Wills.
The proper preparation of trust deeds and other trust documents is essential and requires an experienced lawyer.
Our experts are available to assist and guide you through the process.
For our clients we have a trust booklet available "To Trust or Not to Trust: a practical guide on family trusts". For your free copy, contact us.