At the most basic level, a trust consists of a settlor (who sets up the trust) and a trustee, who is responsible for management of the trust, and beneficiaries, who are entitled to share in the trust property and are indemnified from liability.
An appointor is the legal entity charged with the appointment or replacement of a trustee.
Trusts can provide flexibility and taxation advantages, and can be used for many purposes – for example, a family discretionary trust that distributes income between family members or the legal entity.
We liaise with your accountant to consider these matters and, if necessary, constitute a trust that meets your needs.
If, for example, you wish to leave assets “on trust” for your children when you die, this is known as a testamentary trust, and generally forms part of your will.
Please see our Wills page for more information in that regard.