Debbie Reyland considers when a trust may be used to mitigate capital gains tax on property.
Trust funds tend to evoke images of wealth, which is a world away from the ‘ordinary’ person.
In fact, a trust is purely an arrangement where an individual (the settlor) transfers an asset into a trust run by other persons (the trustees) for the benefit of someone else (the beneficiary).
The trust has an independent existence from the trustees, who can retire or join with no implications except if a non-resident trustee is appointed.
