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The trustees are the legal owners of the assets held in a trust. Their role is to: deal with the assets ing to the settlors wishes, as set out in the trust deed or their will.
What are the 3 types of trust?
To help you get started on understanding the options available, heres an overview the three primary classes of trusts. Revocable Trusts. Irrevocable Trusts. Testamentary Trusts.
What is the difference between a trust and a contract?
The short answer to What is the difference between pension trusts and contract-based pensions is that a Trust Pension is established by a settlor, and the assets within are set up in trust, whereas a Contract Pension involves an individual contract between an employee, or an individual and a pension provider.
What is an agreement of trust?
A declaration of trust deed is a binding agreement between the co-owners of a property which confirms how they own the beneficial interest in the property. There can up to 4 legal owners of a property but the legal owners of a property do not necessarily have to be the beneficial owners of the property.
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