Looking after the future

Due to the versatility of trusts as a financial planning tool, they are attractive to high net worth individuals whose interests and families are often worldwide. Before broadly looking at how trusts are used to best serve international families, it is worth revisiting just what trusts are. In its simplest form a common law trust is a relationship established by an individual (the settlor), transferring assets to a third person or company (the trustee) to hold those assets in his name only for the benefit of a third party or parties (the beneficiaries) under the terms of a document, known...