Trust funds - help

[Iron Condor]

aye. Ive done that. It seems to be a massive grey area. everyone knows what a trust fund is, but noone can define a trust fund.

Perhaps you should go and ask over in 'Legal and Accounting'.

[EternalOptimist]

Perhaps you should go and ask over in 'Legal and Accounting'.

you are right, but this is the best place to get good general advice and experience.

[suityou01]

you are right, but this is the best place to get good general advice and experience.

[EternalOptimist]

trust me. they helped me with crabs a few years ago.

[suityou01]

trust me. they helped me with crabs a few years ago.

These ones?

[MarillionFan]

If you need Accountancy help don't ask an Accountant ask Cuk.

If you need Legal advice don't ask a solicitor ask Cuk

If you need Contract advice don't ask the PCG ask Cuk

If you need financial advice...yada yada

[EternalOptimist]

These ones?

no, mine were bigger, japanese, and there were about a thousand of them infesting my @rse-hole and sack region

[Gonzo]

A Trust is a quasi-legal entity in it's own right.

A trust deed establishes the trust, appoints trustees (i.e. real people or companies) to run the trust and specifies what the purpose of the trust is and possibly how it will be managed.

It is not a million miles away from the concept of a Limited Company in that it is an entity in its own right with individuals appointed to manage it according to rules set out at its establishment, but unlike a Company a trust is not recognised as an individual so if it holds assets, investments, bank accounts etc, these will be registered in the joint names of all the trustees, not the trust itself. There is no central registry of trusts.

The trustees have legal obligations set out by the trust deed but I don't know what the sanctions against them could be if they run off with all the money for example.

To set up a trust you need to see a Solicitor. You could probably do it yourself in theory, but not if you don't know what you are doing.

[mudskipper]

no, mine were bigger, japanese, and there were about a thousand of them infesting my Aa Sou and sack region

[suityou01]

A Trust is a quasi-legal entity in it's own right.

A trust deed establishes the trust, appoints trustees (i.e. real people or companies) to run the trust and specifies what the purpose of the trust is and possibly how it will be managed.

It is not a million miles away from the concept of a Limited Company in that it is an entity in its own right with individuals appointed to manage it according to rules set out at its establishment, but unlike a Company a trust is not recognised as an individual so if it holds assets, investments, bank accounts etc, these will be registered in the joint names of all the trustees, not the trust itself. There is no central registry of trusts.

The trustees have legal obligations set out by the trust deed but I don't know what the sanctions against them could be if they run off with all the money for example.

To set up a trust you need to see a Solicitor. You could probably do it yourself in theory, but not if you don't know what you are doing.

If you need Accountancy help don't ask an Accountant ask Cuk.

If you need Legal advice don't ask a solicitor ask Cuk

If you need Contract advice don't ask the PCG ask Cuk

If you need financial advice...yada yada

Nice one Gonzo.

In your face MF