Trusts

A trust may be described as an arrangement by which one or more persons (the "trustees") agree to accept property from another (the "settlor") and to deal with that property for the benefit of one or more persons ("beneficiaries"). If created during the settlor's lifetime, a trust will be established by deed or declaration. The trust deed will contain the terms on which the trustees are to hold the property, the powers the trustees may exercise and details of any protector (being an independent person appointed to monitor the actions of the trustees). It is also possible for a trust to arise on death and specific trust provisions are often incorporated in a person's will.

Trusts have wide uses for planning by both private clients and corporate clients.