
An overview on family trusts
A trust exists when one person (a ‘trustee’) owns a property on behalf of another person to give benefits to that person. While a family trust is found to be a trust set up that makes you to give benefit to your family members. The purpose of the family trust is just for you to transfer your properties to the trust; so that, legally you don’t own any assets in your name, but you can reap benefits from these assets in the name of the trust.
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