A trust is set up as a legal method to safeguard assets in order to support beneficiaries. Setting up a trust is a tedious and severe responsibility, and the decision to set up a trust should be taken only after serious consideration and consultation.
We always advise our clients to reach out to solicitors to set up a trust because it is a huge challenge to do it yourself. As per the law, for a trust to be valid, it has to satisfy three primary criteria:
The settlor’s intention
Trust property or assets
Beneficiaries of the Trust
While it is possible to draw up the legal paperwork, the task can be overwhelming to most. That’s the reason why reaching out to trust solicitors can make the job much easier and legally complaint.