Trusts 
Trusts are primarily used for tax and estate planning, a Trust is an equitable obligation, binding a person (called a trustee) to deal with the property over which he has control (the trust property) for the benefit of persons (the beneficiaries) any one of whom may enforce the obligation.
In simple terms, a Trust is a way of arranging property (assets) for the benefit of others without giving them control over it.
A trust is a popular financial planning tool for those who wish to arrange their property and/or assets for the benefit of others without giving them immediate control over them.
Common reasons to set up a trust are:
* provide for the orderly distribution of assets after death
* protect the beneficiaries' best interests
* allow more than one generation to enjoy the use of a property
* reduce income and capital gains tax liabilities
