A trust provides a valuable way to protect the assets you have accumulated for the benefit of others. Our extensive experience with trusts enables us to offer specialist advice on trust formation and ensures all statutory requirements are met. Obligations for trustees can often be onerous, and our assistance in trust administration can prove invaluable. We can assist with:
- Preparing and executing the vital documentation required for trust formation
- Attending to the special requirements involved in reporting for trusts
- Completing the trust administration:
- Minute-keeping service
- Annual accounts
- Asset management
- Investment monitoring
- Income distribution
Contact us today to ensure your trust is formed and administered as effectively as possible, covering all legal requirements and guaranteed to fulfil its purpose!
A trust of property is an obligation on the trustee to hold property or income for a particular purpose on behalf of other people. There are a number of different types of trusts:
- Discretionary trusts;
- Unit trusts (public and private);
- A combination of a unit and discretionary trust (hybrid);
- Fixed trusts;
- Testamentary trusts; and
- Inter vivos trusts.
Family trusts are typically discretionary trusts with family members as the beneficiaries. Discretionary trusts are so called because the trustee has a discretion as to which beneficiaries he or she may pay income or capital. Income can usually be paid to one beneficiary at the exclusion of another. The potential pool of discretionary beneficiaries is usually set out in the trust deed.