What is a Trust?
Although a Trust is a legal document it might help to think of it as a safety deposit box to safeguard your assets
What is a Trust?
Trusts have been around since the 12th century from around the time of the crusades.
Trusts are a legal entity, allowing someone to benefit from an asset without them being the legal owner.
There are different types of Trusts, both “Lifetime Trusts” and “Will Trusts”
We often think of trusts a little like a safety deposit box, where you can protect assets within it and you choose who the key holders are to manage your box (trustees) on behalf of your beneficiaries
Parties to a trust are; “Settlor” – The person or people who puts assets into a trust; “Trustees” – The people that you nominate to manage the trust; “Beneficiaries” – The people who are to benefit from the trust.
How long does a Trust last?
A trust can last for 125 years, so the elements placed within your trust can continue to benefit your family and your families family long after you are gone.
