Trusts are often used to protect assets from being at risk due to debts, business liabilities, relationship breakdowns, or to help arrange the distribution of assets to younger family members in the future.
If you think that the new Trusts Act that came into effect on 30 January 2021 has nothing to do with you, think again. What if you happened to be the beneficiary of a trust without knowing it? Or what if you were eligible to inherit a small (or large) fortune without realising it? These are some of the scenarios the new law aims to resolve.