What is a trust?
A trust is a relationship where one person (the settlor) gives property to another person (the trustee) to manage it on behalf of another person (the beneficiary). A trust can benefit more than one beneficiary and be held by an individual or company.
What are benefits of a trust?
The benefits of a trust often include maintaining and protecting assets, controlling distribution to beneficiaries, saving time, and avoiding or reducing taxes.
The law surrounding trusts is varied and complex with a number of trusts available, which is why, at Stevenson Luchies and Legh, we understand the importance of listening to our client’s unique needs and desires, and providing advice accordingly. Therefore, we advise on the many uses and implications of trusts before helping our clients decide on the best type for their needs.
Our lawyers have experience with preparing and implementing a variety of trusts, including inter vivos trusts, trusts for disabled beneficiaries, trusts for minors, charitable trusts, and other testamentary trusts. Additionally, we also advise trustees on the administration of trusts, including responsibilities and duties, execution, and tax implications.
We can help you set up trusts that will preserve your wealth and distribute it in the way you want.