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Professor Brett's Davies, a barrister and solicitor at Legal Consolidated, explains the benefits of creating a declaration of trust before purchasing an asset. This document allows you to secretly purchase an asset without the vendor knowing your identity. This can be useful when you want to buy something privately, like a car, but do not want to be the one who ends up owning or paying for it. By appointing a trustee, such as a trusted friend, to make the purchase on your behalf, you can keep your identity hidden while still acquiring the asset.
