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To establish a Trust, a Trust Deed must be drawn up. A Trust Deed specifies your wishes, lists grantor, beneficiaries and Trustees to manage the assets. It also describes what the Trustee or Trustees may and may not do.

The Trust document may also name a protector who while having no responsibility for the day to day running of the Trust, can have the power to veto other Trustees decisions along with the ability to dismiss and appoint new Trustees.

As soon as the Trust is set up, you may transfer assets straight away. In the case of certain assets, such as property, you may incur stamp duty and capital gains liability at the time of transfer.

In certain jurisdictions, you are required to register a Trust. This depends on local legislation. Generally speaking, there is no legal responsibility to register.

Turner Little and its affiliates do not provide tax, legal or accounting advice. Material on this page has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.