A trust is a way of managing assets (money, investments, land or buildings) for people. There are different types of trusts and they are taxed differently. Trusts are set up for a number of reasons, including to control and protect family assets, or when someone’s too young to handle their own financial affairs, or when someone can’t handle their affairs because they become a vulnerable adult.
Trusts can also be used to pass on assets while you’re still alive, or to pass on assets when you die (a ‘will trust’), or under the rules of inheritance if someone dies without a Will (in England and Wales).
- The ‘settlor’ – the person who puts assets into a trust
- The ‘trustee’ – the person who manages the trust
- The ‘beneficiary’ – the person who benefits from the trust
At Will, Trust and Protect we have the expertise and experience to help you create a Trust that will benefit you, and your family’s future whilst best protecting your estate.