FINANCE UPDATES – Dec 2019 – An Overview of Trusts
If you’re passing on your money, property or investments – to a
relative, a friend or an organisation – you want to ensure it goes
to the right person or cause and is used as you wish.
As a legal agreement over how your assets will be managed, a
trust can offer a level of certainty that you don’t have when you
transfer assets directly.
For example, let’s say you want to give your grandchild money
to help towards their future savings. If you transfer it directly
to them, there’s a risk they will spend the money irresponsibly
before they’re old enough to know better – but if you give it to
another relative you can’t be sure how they will choose to use it.
Finance Update – An Overview of Trusts