The trust is a unique relationship which allows an individual or a legal entity (the Settlor) to transfer assets — which may be of almost any type — to a third party (the Trustee) to be administered for the benefit of persons chosen by the Settlor (the Beneficiaries) in accordance with the provisions of a document (the Trust Deed). The concept is based on the separation of legal ownership of the Trust assets (which rests with the Trustees) from the beneficial ownership (which rests with the Beneficiaries).
Trusts are extremely versatile and this accounts for their long-standing use in wealth management. Examples of trusts include, Asset Protection, Purpose Trusts, Pensions Trusts, Voting Trusts and Charitable Trusts.
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