A key feature of a trust is the separation of ‘control’ of the trust assets from the ‘benefit’ of those assets. The trustees as owners are in control. They must ensure the assets are cared for in the best interest of the beneficiaries. But the beneficiaries are removed from ownership and management itself. This can be a vital safeguard for the long-term security and direction of rural estate assets.
This will be one of the topics reviewed in more depth during the forthcoming Trustee Training Events at Rhug estate and Ragley Hall, organised in conjunction with the CLA. For more details:
This is the second of 10 brief ‘Need to Know’ notes for trustees and their professional advisers.