Trusts can be an effective way of protecting property and managing assets.
A trust is created when a person, called the settlor, transfers property to people known as trustees. Trustees are obliged by law to use the property for purposes that the settlor specifies. Usually, one of these purposes is to make payments from the trust property to people called beneficiaries.
The parties who will benefit from the trust and the way in which the property is to be dealt with are usually set out in a document known as the Trust Deed. Trusts can also be created by Wills.
It is essential that the Trust Deed and other trust documents are correctly prepared which requires the assistance of an experienced lawyer. Our lawyers are available to assist and guide you through the process.
Richard Galbraith, via a corporate entity, offers a full independent professional trustee service, assisting trusts to run smoothly and fairly for the beneficiaries.