Trusts

A trust is an equitable obligation, binding on a person (who is called a trustee) to deal with the assets over which he/she has control either for the benefit of persons (who are called the beneficiaries) of whom he/she may be one, and any of whom may enforce the obligation, or for a charitable purpose, which may be enforced for some other purpose permitted by law though unenforceable”.

Trusts may be used for a great number of different purposes and can be structured to suit the particular circumstances of the settlor and the beneficiaries. The more common uses of trusts:

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to hold the assets for minors or any persons who are physically or mentally incapable.

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to attend to the succession of the assets on the settlor’s death.

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to provide a level of asset protection for beneficiaries who may become bankrupt or divorced.

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to provide for charitable purposes or objects.

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to provide for confidentiality.

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to assist with tax and estate planning.

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TRUSTS

to hold the assets for minors or any persons who are physically or mentally incapable.

to attend to the succession of the assets on the settlor’s death.

to provide a level of asset protection for beneficiaries who may become bankrupt or divorced.

to provide for charitable purposes or objects.

to provide for confidentiality.

to assist with tax and estate planning.

to hold pension funds and or insurance policies.

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