Absa Kenya held another Webinar on Tuesday, November 24, 2020, on investments, Trusts, and Succession Planning, to enlighten customers on how to think of both the present and the future in terms of the investment plans.
Of interest, was the difference between a Trust and a Will? What does an investor get by having a Trust and what is the importance of having a Will? Many people around the country often see no need of having a will. Experts think differently.
A trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary.
Trusts are established to provide legal protection for the trustor’s assets, to make sure those assets are distributed according to the wishes of the trustor, and to save time, reduce paperwork and, in some cases, avoid or reduce inheritance or estate taxes.
In finance, a trust can also be a type of closed-end fund built as a public limited company.