Post by STEP – Advising Families Across Generations

Welcome to STEP's Trusts Information Centre, a one-stop shop for everything you might want to know about trusts. For example, we have a trusts FAQ section which answers questions including: 👉What is a trust? A trust is the formal transfer of assets, such as property, shares or cash, to a small group of people (usually two or three) or to a trust company with instructions that they hold the assets for the benefit of certain persons or purposes. 👉Who owns the assets in a trust? A trust, unlike a company, cannot own assets. Instead, the trustees are the legal owners of the assets. The distinctive feature of a trust is therefore the separation of legal ownership and beneficial ownership of the assets in the trust fund. 📖Learn more about trusts: https://bit.ly/4cY1Eww #STEPCPD #Trusts