Trusts can be useful financial tools in certain situations, but they can seem complex. Here, we explain what a trust is and some of the circumstances where using one may be appropriate.
What is a trust?
A trust allows you to give rights to hold assets to one party, known as the trustee, for the benefit of another, known as the beneficiary. It provides legal protection and helps ensures your wishes are carried out. You can place certain conditions on assets within trusts that the trustee must adhere to.
There are ...