INTRODUCTION
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Having carefully selected the most appropriate
product(s) it would be ironic if the plan was frustrated by the proceeds
being reduced by taxation, or paid to the incorrect individual(s). |
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A trust allows the person (the settlor) setting up
the plan to dictate exactly who will benefit, in what proportion and
when. |
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To set up a trust we need to determine what
the trust property is, who is to administer it (trustees) and who is to
benefit, if more than one beneficiary in what proportion, assuming they
all survive, and what happens if they predecease the settlor. |
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