A trust can be created for lots of reasons, this can be to protect property for tax purposes or protect vulnerable people who may not be able to deal with money themselves. Trusts can be created in life or in a Will.
They now must be registered HMRC, and accounts must be kept for all trusts so if you are a trustee or a beneficiary you must ensure this is complaint.
No, not all do but these are limited cases such as charities. Please call one of our solicitors to check if your trust needs to be registered.
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