Understanding trusts
Trusts can be used for a range of purposes, but they involve legal duties and can have tax and administration consequences. Whether a trust is appropriate depends on your objectives and circumstances.
Clarify the purpose
A trust should be considered in light of what you want to achieve, who may benefit, and how the arrangement will be managed.
Understand roles and duties
Trustees have responsibilities. It is important to understand those duties and the terms that govern the trust.
Consider the wider picture
Trust planning may need to be considered alongside your will, powers of attorney, tax advice, and other arrangements.
This page provides general information only. The legal position depends on your circumstances and the law applicable to your matter. No outcome is guaranteed.