A Trust is a legal structure which is created with a specific purpose. They are commonly used in Estate Planning to enable the person establishing the Trust (known as the Settlor) to maintain control over the assets they have accumulated over their lifetime. It is important to discuss how and when these structures are to be funded as this will have an impact on the assets and potential tax consequences of the settlor and beneficiaries. An example may be to fund the cost of education for a child or grandchild. Contact us for more information.