 |
 |
 |
 |
 |
|
|
|
|
|
 |
 |
 |
 |
 |
 |
 |
Definition
A Trust is a legal relationship which arises whenever a person (settlor or grantor) transfers the legal title of some property to a trustee who is then compelled to hold it for the beneficiaries. This relationship is governed by a trust instrument.
Assets within a Trust Fund can include cash, securities, personal property, or real estate. The trustee holds the legal title to the assets, but it is also legally bound to protect, manage, and distribute the assets to the beneficiaries, according to the terms set forth in the trust deed.
In certain types of Trusts, the settlor may retain some decision-making power during his/her lifetime, such as amending the terms of the Trust deed or revoking it. No one except the original settlor can alter or interfere with the terms of the Trust.
Advantages
Trusts have existed for years and have been used to maintain privacy, safeguard, and pass family fortunes to succeeding generations. Their main benefits include:
 |
 |
 |
 |
|||||||||
 |
 |
 |
 |
 |
 |
 |
||||||
 |
 |
|||||||||||
 |
 |
 |
||||||||||
|
||||||||||||
