What is a Trust?
Trust is a legal entity like a company.
Its a formal way of putting someone in charge, to look after some assets, for someone else.
In the case of a company:
The Shareholders own the company.
The Directors run the company,
for the benefit of shareholder, investors, employees.
Similarly for Trusts:
The person that creates the trust is called The Settlor, he/she appoints Trustees to look after the assets (property, investments...virtually anything), for the benefit of Beneficiaries.
Whats the big deal about it?
Its a cool way of controlling an asset without owning it.
They provide a 'secret' way of passing on your wealth to your family.
A Will becomes a public document once probate is granted but not a Trust.
Download extract of David Cameron's fathers Will.
Are there different types of Trust?
Yes. e.g:
Express/Pilot trusts, Implied Trusts, Absolute/Bare Trusts, Life Interest Trusts, Discretionary Trust. Secret trusts, Property Trusts.
Different companies brand trusts and uses uniquely.
How is a Trust created?
Generally by way of a document like a contract generally referred to as a Trust Deed.
What are the parts of a Trust Deed?
Details of Settlor (the person creating the trust)
Details of Trustees (the people running the trust)
Details of property (i.e. stuff)
Details of Beneficiaries (the people who will benefit)
Details of Trustees powers.
Signed by Settlor and Trustees.
Is there tax to pay?
Yes.
Like a company, Trusts have to pay income and capital gains tax. But no inheritance tax!
However Trusts has some unique features where taxes can be minimised or mitigated.
How can we help?
We help you assess your wealth.
We advice you if a trust is necessary.
If it is then we advice you on which trust is the most appropriate.
We provide all the legal documents and set the trust up.
We use Trusts extensively to transfer our client's wealth for their loved ones.
Contact Us
Trust is a legal entity like a company.
Its a formal way of putting someone in charge, to look after some assets, for someone else.
In the case of a company:
The Shareholders own the company.
The Directors run the company,
for the benefit of shareholder, investors, employees.
Similarly for Trusts:
The person that creates the trust is called The Settlor, he/she appoints Trustees to look after the assets (property, investments...virtually anything), for the benefit of Beneficiaries.
Whats the big deal about it?
Its a cool way of controlling an asset without owning it.
They provide a 'secret' way of passing on your wealth to your family.
A Will becomes a public document once probate is granted but not a Trust.
Download extract of David Cameron's fathers Will.
Are there different types of Trust?
Yes. e.g:
Express/Pilot trusts, Implied Trusts, Absolute/Bare Trusts, Life Interest Trusts, Discretionary Trust. Secret trusts, Property Trusts.
Different companies brand trusts and uses uniquely.
How is a Trust created?
Generally by way of a document like a contract generally referred to as a Trust Deed.
What are the parts of a Trust Deed?
Details of Settlor (the person creating the trust)
Details of Trustees (the people running the trust)
Details of property (i.e. stuff)
Details of Beneficiaries (the people who will benefit)
Details of Trustees powers.
Signed by Settlor and Trustees.
Is there tax to pay?
Yes.
Like a company, Trusts have to pay income and capital gains tax. But no inheritance tax!
However Trusts has some unique features where taxes can be minimised or mitigated.
How can we help?
We help you assess your wealth.
We advice you if a trust is necessary.
If it is then we advice you on which trust is the most appropriate.
We provide all the legal documents and set the trust up.
We use Trusts extensively to transfer our client's wealth for their loved ones.
Contact Us
