Trusts in United Kingdom, Registration, Consultation and Operations
Law in British regarding trust enjoys a long, amazing history since back to the primitive times of the 12th century and the Act of Uses adopted during the reign of Henry VIII in the 16th century. That time, trust and equity rules were recognized as a parallel integrity system to address “inequity” of common law around property disputes (and to appease disgruntled claimants) Initially, trust funds were mostly used for the running of “will monies” and to create family payments. Today, “trust” has evolved into an canopy term for a variety of financial structures that allow citizens to protect assets, distribute earnings, and manage wealth both for the present day and for future generations. Although traditionally associated with billionaires and entrepreneurs, trusts can benefit middle-class families as well. KEY TAKEAWAYS Think about working with a well reputed legal professional when even considering setting up a trust. Trusts are not only for the Rich. In fact, they have benefi