A properly established trust is a platinum means of protecting one’s privacy ownership.Individuals employ a trust to secure a number of advantages, including:
Reduction or deferral of tax liabilities;
Simplification or elimination of the legal formalities connected with the distribution upon the death of the settler or beneficiaries;
Ability of a trust to take into account changing situations, if an appropriate degree discretion is given to the trustee;
Enhanced anonymity.A trust, unlike a will, is a private document.Its creation by during his lifetime is a confidential arrangement;
Assurance of continuity of highly competent administration.With a corporate true an added advantage in that it is not subject to illness, old age, death, or any hurt which can befall an individual;
Increased protection of assets from political risk which could otherwise result in freezing, limitation on use or even confiscation;
Redistribution and protection of assets on migration from one jurisdiction to another country.
The document creating the trust may be called:
The trust deed
The trust agreement
The trust instrument
The declaration of trust
The settler can become a trustee or can disguise his identity by informally telling the trustees to set up the trust and having them formally declare it.An illegal practice is to create trusts and transfer documents of property and keep them in a drawer-if the need arises, the settler produces them, and if circumstances change the settlor can tear them up without anyone being the wiser.