What type of Trust should I set up?

This really depends on your circumstances, wishes and intentions. You might intend for the trust to protect the inheritance of young children or a disabled or vulnerable family member to provide for their future.

While there are common types of trusts (see ‘types of trusts’) you can tailor any trust to fit your circumstances. It is important to remember that some trusts, especially testamentary trusts, will not be established until some time in the future and may exist for many years. Creating a flexible trust arrangement will help your trustee respond to the changing needs of the beneficiaries in the future.