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A Simple Guide to Trusts

Make informed decisions for peace of mind

In this guide:

  • What is a trust? - Discover how they work, key terms and uses.
  • Why have a trust fund? – Find out some of the motivations of choosing to create a trust over other financial solutions.
  • Different types of trust funds – We will explain a little bit about each type of trust and some of the reasons 

A Guide to Trustees' Duties

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Please note that the Financial Conduct Authority (FCA) does not regulate cash flow planning, estate planning, tax or trust advice.

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From this guide:

Key terms

Settlor

he person who establishes the trust by a transfer of assets. This can be done during lifetime through a deed, or on death via the will.

Trustee

A person entrusted to hold the assets for the beneficiaries. For practical reasons, there is usually more than one.

Beneficiary

The person entitled to benefit from the trust. There may be more than one beneficiary.

Key point: A key point to be aware of is that for a trust to be effective for many of the tax advantages, it is important to give up any right to the assets transferred.

Download the full guide to read more.

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