What is a trust? Private Wealth

There are a variety of different types of trusts available. In general, trusts are designed to hold assets until the beneficiaries are ready to own or have control over the assets. For example, parents or grandparents might wish to hold a child’s inheritance in trust until they reach a given age. Trusts can protect your wealth for future generations and from outside claims, for example divorce and bankruptcy.

Trusts can also be created under the terms of someone’s will to help protect personal and business assets after death and are often set up during life to receive assets such as cash, property and life insurance policies.