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Print this pageTrusts & Settlements

Trusts are too often - and wrongly - considered a preserve of the wealthy and purely used as a method to save tax. Here at Cozens-Hardy LLP we feel that a greater understanding would lead to trusts being more widely embraced.

There are many good reasons for a trust being created. Some of these could be:

• The person(s) you wish to benefit are vulnerable (for instance children) and they are not capable of managing money themselves
• You may wish others to assist you in managing your own affairs as you get older, without giving away full control of assets to children etc
• You may want to preserve assets such as shares in a family company

Don't be scared off by the word 'trust'. Simply consider a 'Trustee' as a guardian whom you have chosen for a set job and who you know will carry out your wishes.