January 2010

In an environment of rising taxes, knowing what you can do to protect your assets for your family’s future is essential. One way of doing this is to set up a trust, but what is a trust?

A trust arises where assets are transferred by one party (“the settlor”) to other individuals (“the trustees”) to hold for the benefit of others (“the beneficiaries”). The trustees owe a duty of care to the beneficiaries when managing the trust assets.