Trust means

In’s and Out’s of Trusts.

The English language can be tricky. If something in a Will is “Upon Trust” is means that the asset concerned is going to be managed by the Executors of the Will on behalf of the beneficiaries, in line with the rules set out in the Will. Mostly once this process has been complete the asset normally is distributed to the beneficiary and that is the end of it. Whereas if an asset is “In trust” via a Will then it is much more common for that asset to remain in Trust managed by Trustees for the beneficiaries under the rules of the Trust for a considerable period of time, often 125 years. Both uses of Trust are about protecting assets for the beneficiaries, it is just that one is for a much longer period of time than the other. If you are unsure which type, you are dealing with then give me a call.