Category: Articles

Some people decide to set up a trust during their lifetime, and pay money into it on a regular basis. They can appoint themselves as a trustee and will have control over the money held in the trust. The law considers money held in a trust as separate to that of your estate, so the… Continue reading Saving on Inheritance Tax Liability by Trust

A trust fund is a fund comprised of a variety of assets intended to provide benefits to an individual or organization. Setting up a trust fund is a way of enabling someone with money mismanagement problem to benefit from the choice and control that direct payments bring.The trust fund is established by a grantor to… Continue reading How to Establish a Trust Fund

There are many types of Trust Funds designed for specific situations, There are different types of trust designed to meet different kinds of needs. The type of trust you use will depend on who the beneficiaries are, what the assets are, and how and when you want the assets to be distributed. The main types… Continue reading Types of Trust

Trust funds, or deeds of trusts as they are also known are a great way to help protect your loved ones, ensuring they can be provided for in the future. Trust funds can: Protect your assets – so they cannot be used to pay for care home fees Guarantee an income for your loved ones… Continue reading Benefit of setting up a trust

An estate trustee derives his authority to act from the will which takes effect upon the death of the testator.  An estate trustee who is not willing to assume the duties office, however, may formally renounce the right to act. The estate trustee has certain statutory rights and obligations which includes: Arranges for the proper… Continue reading Duties of a trustee to an estate

Trusts can help to minimize inheritance tax because it reduces the value of your overall estate by placing assets in a trust and naming your loved one as the beneficiary. When you set up a trust your assets are removed from your estate and put aside for the beneficiary. This enables you to protect your… Continue reading Setting up trust fund for beneficiaries of an estate

In choosing an estate trustee, a testator should consider the following factors: The age and health of the prospective estate trustee Competence of the Trustee Experience. Availability and willingness to serve. Proximity to the beneficiary -where the prospective estate trustee lives Ability to serve without conflict of interest.  The honesty, capability and responsibility of the… Continue reading Factors to consider in choosing a good estate trustee.

Living trusts is a trust made to operate during your life time. It is termed ‘inter vivos’ trusts which literally is ‘among living beings’. Most simply, they can be seen as the legal opposite to testamentary trusts, which are not fully constituted until after the death of the settlor. Thus, a living trust is constituted… Continue reading What is a living trust?

A trustee can be removed on the following ground: If the Trustee deals with the beneficiaries estate deceitfully. Where there is a conflict of interest between the trustee and the trust property. He is incapable of carrying out his function Refuses to act A trustee can be removed in a number of ways, either with… Continue reading When can a trustee be removed?

A trustee is one who has been appointed to hold the deceased estate in trust for a beneficiary of less than 18 years of age. The trustee owes a fiduciary duty to the beneficiary of the trust and must act in the best interest of the beneficiary. A trustee as a legal owner of the… Continue reading Duties of a trustee to a beneficiary.