It is a legal agreement that involves three persons which includes the trustor, trustee, and of course the beneficiary. It is an arrangement where trustees manage the assets of the trust for the benefit of the benificiaries.
You can also have a trust that comes into effect upon the death of a person. The main goal of setting up a trust is to provide sustainable support to a certain beneficiary after the time of the trustor’s death is that the trustor will be rest assured that the assets which have been placed in the trust will be properly managed by the trustee rather than giving it to them directly while still alive. In this way a trustor will be assured that a continues support will be provided to his beneficiary after his/her death.
Alliance Accounting, a Chartered Accounting firm based in Sydney provides a high level of specialty in trust set up. We realised how important the matter is, that is why we are giving you the best of our ability in setting up your trust in a most prudent way.