Trusts
A trust is a legal arrangement whereby persons called trustees hold and control assets for the benefit of people described as beneficiaries.
A trust is created by legal agreement, which sets out the names of the beneficiaries and the powers of the trustees. It may also name a protector, who may have the power to dismiss and appoint trustees and supervise them.
Trusts are used by private clients and companies, for succession, asset protection and tax planning.