Trusts

Trusts have been used for centuries and are a useful way for a person (Settlor) to provide for someone else without giving that person complete control of the asset.

Trusts can be set up during your lifetime or on your death in your Will. The Trust Deed sets out who the Settlor is entrusting to look after the asset (The Trustees) and who are the beneficiaries. It also sets out the terms of the trust, for example, the purpose of it, how long it is to last and how it is to be operated.

There are many different types of trust to suit a number of circumstances and they can be tailor made depending on your own requirements. They are normally quite fact specific so it’s best to call up to book an appointment if you think this is something you want to do.