Trusts
Trusts
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Trusts
What Is a Trust?
A trust is a legal entity with separate and distinct rights, similar to a person or corporation. In a trust, a party known as a trustor gives another party, the trustee, the right to hold title to and manage property or assets for the benefit of a third party, the beneficiaries.
Trusts are needed to:
- protect family wealth for future generations against third party attacks.
- prevent disinheriting your descendents in case your spouse re-marries.
- continue caring for the loved ones after death.
- reduce inheritance tax.
- maintain perpetual charity after the departure.
- ensure vulnerable descendents are looked after.
