Investment Trusts and Family Trusts
In a family trust, a family member can set aside assets for the future benefit of their family, with accruing gains on that invested sum being allocated to whomever the trust rules decide is entitled to receive them. They are usually set up as:
- “testamentary trusts”, where a late relative can leave their estate to the benefit of certain family members, to accrue until certain events happen, such as, say, like a grandchild turning 21.
- “inter vivos trusts”, which literally means “during life” trusts. These are set up by family members to set aside their wealth for the benefit of their family now.