A trust is a division of legal and beneficial ownership of an assets. The Trustee holds legal ownership of the asset and manages it on behalf and for the benefit of the Beneficiary, who has a beneficial entitlement to the asset. This can be useful as a way of controlling how Beneficiaries receive gifts.
You may wish to setup a trust for many reasons, including avoiding probate, protecting assets from creditors, ring-fencing assets to ensure that they are protected from outsiders marrying into your family, providing for a minor or someone with special needs, providing for elderly parents, regulating how much money is given to someone who manages money poorly, or even simply for benefiting charities and institutions.
Whatever your needs, we can assist you with setting up a trust.