A trust is a mechanism that allows you to separate out the ownership and control of property away from the benefit of it. The people who have control over trust property are called ‘trustees’ and the people who have the benefit of the trust assets are called the ’beneficiaries’.

Trusts can be made to be very flexible and can provide solutions to a number of issues, such as:

• Tax planning
• Allowing vulnerable beneficiaries to benefit from assets, but without actually giving them control
• Protecting compensation awards and benefits
• Providing for successive people to benefit from assets
• Benefiting charitable causes