Right trustees central to generational wealth

A trust exists when a person (settlor) transfers control of property to another person (trustee) to hold for the benefit of the beneficiaries.

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Setting up a family trust is a popular and practical vehicle to preserve family wealth and create a lasting legacy. What are the considerations that need to be made when doing so?

Setting up a family trust is not a walk in the park nor is it something that can be done overnight as may be the impression. It requires a great deal more, particularly from a regulatory perspective.

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Note: The results are not exact but very close to the actual.