Trusts and Wills

A Trust is third party legal structure, where assets are controlled and held on behalf of the assets’ beneficiaries. This means that the settlor no longer owns the assets and transfers must be done in accordance with the terms of the Trust Deed.

Some of the reasons people establish trusts, range from:

• Asset protection against creditors (if you have a business or are a director of a company)
• Protecting assets from relationship property claims (especially when combined with a Relationship Property Agreement)
• Managing and monitoring assets long-term
• Providing effective estate planning and offering flexibility to the various needs of their beneficiaries.

Although trusts are beneficial for many circumstances, they’re becoming outdated in some areas. There may be other ways that your assets can be protected that would be better suited to your situation. Please get in touch to organise a free initial conversation and we can help determine what form of protection would be best suited to your circumstances.