This is the first in a series where Richard Ballard,  Managing Director of Ryefield Accountants and Tax Consultants, discusses settlements and trusts and some of the potential pitfalls.

No1 Why Settlements and Trusts?

Some definitions

A trust is the relationship which exists where a person or persons (trustees) hold property for the benefit of others (beneficiaries).  A trust is usually created by a written document, possibly during an individual’s lifetime or perhaps by a will upon death.

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