Updated: Sep 15, 2019
Why would you want set up a trust?
A few reasons, namely to manage your family assets, protection of those family assets and estate planning.
For estate duty purposes, a trust makes for smooth succession arrangements and the trust will not be subject to legal procedures after ones death. Trust’s assets are accessible at all times.
A trust can provide a centralised management structure and controlled distributions to the beneficiaries. Putting your family assets into a trust could also protect them from creditors.
Please ensure when forming a trust you chose the trustees carefully, as they in their performance must act with care, diligence and skill which is reasonably expected.
They are also required to do the necessary work, make difficult decisions that are in the best interest of the trust. They would also have to have a very good understanding of the Trust Deed and the interest of the beneficiaries.