An Absolute Trust, or Bare Trust as they are also known, is an arrangement where the Settlor gives Trustees cash or other assets to look after for a named beneficiary (or beneficiaries). The main difference from other types of Trust is that the beneficiary(ies) cannot be changed.
The Settlor must therefore be certain of who they wish to benefit from the outset. If they are not certain then other types of Trust, such as a Discretionary or an Interest in Possession Trust may be more appropriate.
Trust planning is complex, and we strongly recommend that you contact us for further guidance.
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