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Set up an express trust
Set up an express trust
What is an express trust?
Express trusts are set up through a legal act that creates a separate estate to which all or part of the trustor's assets are transferred. The property is administered by one or more trustees to specific ends on behalf of one or more beneficiaries.
From a tax standpoint, express trusts are considered a taxpayer and must produce its own separate tax return.
Express trusts can therefore be set up to be managed by a trustee on behalf of your designated beneficiaries.
What type of trust?
There are two types of express trusts:
