Types of Trusts

Holding Trust

Are normally set up as fixed Trusts. Trustees are required to hold Assets such as property in the form of shares for the benefit of the beneficiary.

Collection Trust

Are also set up as fixed trusts, however, Trustees have very limited authority. They are set up to hold property and profit to be disbursed to the beneficiary at set times.

The accumulation and maintenance Trust

Are set up as discretionary Trusts and have much greater powers granted to the Trustee. The Trustee will organize the Trust property in accordance with the wishes of the “Settler’ (beneficiary).