Trusts

The Law of Trusts is a daunting concept for most people. There is a lot of technical language, and it is not always clear exactly what trusts are meant to do.

However, trusts appear in all sorts of day-to-day legal situations and can be an extremely useful ways of obtaining practical results. Most Wills contain Trust Clauses, to enable the Will maker’s wishes to be put into action after they have died. Property or money for young people is normally placed in a Trust for them.

People who jointly own their house are, in fact, Trustees and Beneficiaries of a straight forward Trust arrangement. Where two people contribute towards the purchase of a house where they can live together, a separate Trust Deed is a very useful way of safeguarding the fair share of each of the parties to the arrangement.