A Trust involves putting assets aside in a separate ownership structure for a specified purpose.
The Trustee is tasked with managing the property on behalf of their beneficiary or beneficiaries.
A Trust can be drawn up to take effect while you are still alive (Intervivos Trust) or after your death (Testamentary Trust under a Will). They can be established for a number of reasons:
To meet the education costs for children or grandchildren
To pay funeral costs
To cater for a family member with special needs
To protect assets for future generations
To set aside assets so that a trust can run a business or contribute to a charitable cause
To protect the interests of the beneficiaries.
Public Trust can provide independent expert trustee services for the life of the 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.