Effective trust planning makes passing ownership of assets less daunting

Trusts have evolved in common law through the centuries and have been widely employed to preserve family wealth and to secure the passing of assets from one generation to the next. Trusts offer considerable benefits yet potential users, particularly from civil law jurisdictions, are intimidated by what they perceive to be a complicated foreign legal concept. Essentially, a trust is created by the formal transfer of assets by a creator (or settlor) to a trustee who is required to administer them for the benefit of others, know as the beneficiaries. The prospect of passing owner...