How does it work?

When you set up a trust, how it will work is detailed in a trust deed. You appoint trustees, who will ensure the trust operates as set out in the trust deed. You can appoint yourself as a trustee which will ensure you will have a say in guiding the trust.

You also decide who the beneficiaries of the trust will be - this could include yourself, your family or a charity.

How does it work(continued)?

When you set up a family trust, you 'gift' assets to the trust as one immediate transaction.  Alternatively, you could 'sell' your assets to the trust at their full market value.  The trust then owes you a debt and you can 'gift' this debt away via an  annual gifting programme. The option that best suits you will depend on personal circumstance and your reasons for establishing the trust.

How does it work(continued)?

Public Trust can provide independent expert trustee services for the life of the family trust. We'll make sure that accurate records are kept, all tax and other legal requirements are met, and trust documents are kept safe.

We'll also keep you up to date on any law changes that could affect your trust.