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What is Understanding Trusts: Types and Creation about?

A trust is a legal obligation where a trustee holds and manages property or assets for the benefit of beneficiaries. A trust is created when a settlor transfers their property to a trustee to be held for the beneficiaries. There are different types of trusts including bare trusts where beneficiaries have immediate access to capital and income, interest in possession trusts where beneficiaries receive income but not capital, and discretionary trusts where trustees have discretion over payments to beneficiari

Author

Mel Moxey

Language

EN