What is a Trust?

A trust is an obligation binding a person (which can be an individual or a company) called a 'trustee' to deal with 'property' in a particular way, for the benefit of one or more 'beneficiaries'.

Normally a trust is created by a deed. A Settlor might ask a professional adviser to draw up a trust deed, which then sets out the terms of the trust.

A trust can be created under the terms of a will, when someone leaves instructions that when he or she dies some or all of the estate is to be placed in trust. A trust can also occur if a person dies without leaving a will.

Sometimes the Courts will create a trust, for example; when deciding how to deal with property for the benefit of a child or an incapacitated person who cannot manage his or her own affairs. 

Trust Planning with Legacy Wills and Trusts Ltd

At Legacy Wills and Trusts Ltd we use trusts to ensure that your estate is distributed how you see fit, which may include many different outcomes that cannot be predicted by a basic will. Trustees can be enpowered to do many different tasks so that we can tailor make your estate planning to you.

Where possible we endeavor to appoint a professional trustee to manage any trust alongside your family. We do this in conjunction with The Society of Will Writers Trust Corporation.

"SWW Trust Corporation specialises in administering contentious and intestate estates, as well as Will led estates and hand-holding families through the maze of probate and estate administration."

Contact us for more information!