Private Trusts

A private trust is a legal arrangement where a person, known as the settlor, transfers assets to a trustee to manage for the benefit of specific individuals, called beneficiaries. This setup allows the settlor to specify how the assets are managed and distributed over time, often for family members or loved ones. The trustee has a fiduciary duty to manage the trust responsibly, according to the terms set out in the trust deed. Private trusts are commonly used for estate planning, ensuring assets are protected, managed efficiently, and distributed according to the settlor’s wishes.