Who do I appoint as additional trustee(s)?

As the word suggests, a trustee should be someone you trust. For example, your partner, spouse, another family member, a close friend, or your family solicitor. Trustees must be over 18, mentally able and must not be bankrupt.

Trustees should sign the trust form to acknowledge their appointment. In accepting the appointment, trustees must carry out certain obligations and duties. The position shouldn’t be taken lightly.

Who is involved in setting up a trust?

You, as the person creating the trust, are known as the settlor or donor. The people who manage the trust are known as trustees. These people may need to deal with the trust after your death so you need to choose them carefully.

What is a Trust?

A trust is a way of choosing who will receive the benefit of certain assets, without giving your beneficiaries full immediate control over them. A trust is usually created by a document – the trust deed – which names the people involved and sets out the terms of the trust.

Do I need a PPT?

Having a PPT set up would benefit your family if your surviving partner ended up having financial difficulty or ended up going into a care home.