A trustee is a person who manages a trust. A trust is a legal arrangement in which one person (the trustee) holds property for the benefit of another person (the beneficiary). Trustees have a fiduciary duty to act in the best interests of the beneficiaries.

Beneficiaries are typically family members, but can also be charities or other organizations. Trusts can be used for a variety of purposes, including estate planning and asset protection.

If you are considering creating a trust, it is important to choose trustees who you trust to manage the property in accordance with your wishes. You should also consider how the trustees will make decisions and how they will communicate with the beneficiaries.

The Trust Registration Service is a free online service that helps you stay on top of your trust administration responsibilities. The service allows you to register your trust and update your contact information.

The Discretionary Trust is a type of trust where the trustees have discretion over how to distribute the income or assets of the trust. This type of trust can be used to provide for family members who are not able to manage their own finances.

The Disabled Persons Trust is a type of trust that is created for the benefit of a disabled person. This type of trust can help ensure that the beneficiary has access to the resources they need to live a comfortable life.

The Life Interest Trust is a type of trust that gives the beneficiary the right to live in a property for the rest of their life. This type of trust can be used to provide for someone who is not able to take care of themselves.

The Right of Residence Trust is a type of trust that gives the beneficiary the right to live in a property for a certain period of time. This type of trust can be used to provide for someone who is not able to take care of themselves.

The Bereaved Minors Trust is a type of trust that is created for the benefit of children who have lost their parents. This type of trust can help ensure that the beneficiaries have access to the resources they need to support themselves.

Creating a trust can be a complex process, so it’s important to seek professional advice to ensure that your trust is set up correctly.

We offer a free initial virtual or in-person consultation to discuss your specific circumstances. If you would like to make an appointment with one of our experts, please contact us today.