A trust in simple terms is a 3-way relationship, which manages assets such as property, money, investments etc.
The 1st Party (the Settlor) transfers property or a sum of money to the 2nd Party (the Trustee) for the benefit of the 3rd Party (the Beneficiary).
1. Protective Property Trust
2. Flexible Life Interest Trust
3. Disabled Persons Trust
4. Discretionary Trust
5. Vulnerables Persons Trust
6. Right to Occupy Trust
Trusts can be set up for a variety of reasons although the main reasons are:
1. To protect and control family assets
2. When people are too young to handle their financial affairs themselves
3. When people are incapacitated and unable to handle their financial affairs themselves
4. To pass on assets whilst still alive
5. To pass on assets when you die via a will based trust
Life Choice Legal can assist in arranging, setting up and administering a range of trusts to help you protect your hard earned assets. Contact us now to see how we can help you.