Trusts<\/em> are set up by people for a number of reasons, succession planning, asset protection and tax maximization just to name a few. Sometimes trusts are set up unintentionally due to the operation of the law. Legal advice regarding trusts is essential.<\/p>\n\n\n\n The basic elements of a trust are:<\/p>\n\n\n\n Resulting or implied trusts arise when the trustee fails to distribute the whole of the trust interest or there is a surplus after the original purpose of the trust has been satisfied. Such situations also arise when a person buys a property in somebody else’s name.<\/p>\n\n\n\n Constructive trusts arise upon an order of the Court, as a remedial device, where the Court would declare a trust relationship to correct a wrongful act.<\/p>\n\n\n\n Clients may need to have specific trusts created for them to serve a particular purpose. These are categorized as follows:<\/p>\n\n\n\n Other forms of trusts include:<\/p>\n\n\n\n Whilst most people would create one or the other of the above trusts for personal reasons, some wish to create a trust<\/strong> for benevolent purposes which is called “charitable trust” – a trust set up for strictly “charitable” at law, that is, for the benefit of the public at large can include purposes such as:<\/p>\n\n\n\n \nOur law firm<\/a> is client focused and we will take the time to fully understand your situation and concerns. Harry Szmerling & Co is experienced in trust law. Trusts are set up by people for a number of reasons, succession planning, asset protection and tax maximization just to name a few. Sometimes trusts are set up unintentionally due to the operation of the law. Legal advice regarding trusts is essential. The basic elements of…<\/p>\n","protected":false},"author":492,"featured_media":0,"parent":25559,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"\n
\nWe recognise that being a lawyer means much more than just giving legal advice<\/a>. We have experience in a broad range of areas including commercial matters, property transactions, conveyancing<\/a>, commercial leasing, purchase and sale of businesses, family law<\/a>, criminal law, litigation, probate, wills, trusts, traffic and other legal matters. For all legal matters, contact Harry Szmerling & Co<\/a> today.<\/p>\n","protected":false},"excerpt":{"rendered":"