What is a Trust?
The following definition was provided by Sir Arthur Underhill, a barrister at Lincoln's Inn in London.
"An equitable obligation binding a person (who is called a trustee) to deal with property over which he has control (which is called trust property) for the benefit of persons (who are called beneficiaries or cestuis que trust) of whom he may himself be one and any one of whom may enforce the obligation."
This definition is useful because it emphasises the point that the trust property is held for the benefit of the beneficiaries. It is the beneficiaries who hold the equitable interest in the property, subject to the terms of the trust and it is the trustees who own the legal interest.
Trusts can provide a large range of tax and estate planning opportunities.
RL360° has a range of trusts which aim to meet the needs of both UK domiciled and non-UK domiciled clients.
For more information about each of our trusts, please view our trust range menu in the Trusts drop down above.