Trust Formation and Administration

A trust arises out of the separation of the legal title to property and the right to enjoy or benefit from that property.

Working with trusts involves one person (the settlor) transferring the ownership of property to another (the trustee) to hold for the benefit of a person or class of persons (the beneficiaries) or for a specific purpose. In most cases, the settlor expresses the terms of the trust in a document (the trust deed) and the trustees must administer the trust in accordance with those terms and with the law.

A Manx trust is not a legal entity; all the business of the trust is carried on, by, and in the name of the trustees. Unlike a company, trusts do not have directors, but have trustees that manage the trust, as well as protectors, and settlors. The trustees take on the same sort of responsibilities as a director does with the management of a corporation.

For more details on the individual elements that make up a trust, click on the links below:

Trust Formation and Administration | What we do

We provide solid processes around trust formation, delivering a solution that meets your requirements. We work closely with our clients who are looking to utilise trusts to achieve their long-term objectives using our trust solutions, including:

• Family provision and wealth preservation
• Business succession planning
• Protecting assets against personal liability
• Charitable and philanthropic causes
• Sharia compatible planning
• Pensions and employee benefit schemes
• Private trust company structures

Talk to us today
If you need to talk to someone about establishing a trust, then take the first step. You can email enquiries@mannbenham.com or call us on 01624 639350 to arrange your free consultation with us today.

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