The Setting Up Of A Trust - Key Considerations

Summary

Quite often, a trust is chosen as a structure to manage the business and/or family assets of a client. The reasons vary according to clients’ requirements. This article clarifies the various issues, which an individual should consider when setting up a Trust.

Indeed, it is important to consider the pertinent issues, some of which are quite obvious. The reasons are that, at the outset, the individual should be aware of the consequences of making a wrong choice or decision and also of the need to address matters with certainty and most importantly in a cost effective manner.

Perhaps, the first important issue to determine when setting up a Trust is to assess whether a Trust is required at all. There are situations where people want to form a Trust for reasons which are not clear or that they are manoevering under misunderstanding or under wrong advice. Perhaps, the same objective which the individual wishes to achieve can simply be attained by using a