Trust litigation refers to legal disputes when a trust is not managed interpreted, or distributed properly. You can designate a third party to manage assets in trust for you particular individuals or other objectives by creating a trust. This allows you to ensure that your assets are used according to your wishes, even when you are no longer able to manage them yourself. Trusts can be useful tools for estate planning, providing a structured way to support loved ones, charities, or long-term goals.
Designate a Third Party
Through a trust you can designate a third party to oversee assets in trust for individuals or objectives. Although the trustee is legally the owner of the assets held in trust they are only permitted to use or distribute them in line with the terms of the trust deed. Trusts are frequently established to achieve broader objectives like reorganizing a family business or transferring capital assets to the following generation. While setting up a trust has many financial and legal benefits there are also several potentially troublesome issues that need to be carefully considered. Contact CityLaw for your legal help!