Trusts - What Is A Trust & How Do I Find Out More About Them

A trust is an arrangement whereby one party who is called the trustee is the holder of property on behalf of another person and has a legal control over that property. Trusts are used by people to put assets into trust for their children and to reduce tax liabilities such as inheritance tax. Trusts can be very complcated and it is best to get some professional advice when setting up a trust and also to get further advice from time to time whilst the trust is in place in order to make sure the trust is continuing to achieve what you intend it to.