A trust can be a useful device for passing assets out of one person’s estate without them passing directly to another person.
In most people’s minds trusts are thought to be confusing, complex and costly. However, they can be simple to establish and may cost less than you might imagine. Trusts can be created either by Will or during lifetime.
A trust can be a halfway house between owning assets in your name and transferring them outright to someone else. In this way a trust can provide an excellent combination of control, security and flexibility.
You can transfer assets into the trust but still retain a considerable amount of control by appointing yourself as a trustee together with other trusted family members (or a professional person if you wish).
