What is a Trust?
"An equitable obligation binding a person (who is called a trustee) to deal with property over which he has control (which is called trust property) for the benefit of persons (who are called beneficiaries or cestuis que trust) of whom he may himself be one and any one of whom may enforce the obligation."
Sir Arthur Underhill, a barrister at Lincoln's Inn in London once provided the above useful definition.
This definition is useful because it emphasises the point that the trust property is held for the benefit of the beneficiaries. It is the beneficiaries who hold the equitable interest in the property, subject to the terms of the trust and it is the trustees who own the legal interest.
Trusts can provide a large range of tax and estate planning opportunities.
Our Trust planning section is for advisers who are considering the use of an offshore bond in conjunction with a trust to assist with their client’s investment affairs.
In particular, it will be of use to those wishing to enhance the benefits offered through the range of life assurance products that RL360° has designed to meet the needs of both UK domiciled and non-UK domiciled clients.
More information about our trusts can be found in our Guide to Trusts or by clicking on Our Trust Range tab above.