October 29, 2001 By: Sharon Preston Website: http://www.need-to-know-finances.com What is a pure trust? A pure trust has been around for centuries and was very common in England as far back as in the middle ages. It is a concept conceived and developed as a means of separating legal ownership from beneficial ownership. A pure trust is under a common law contract rather than a statutory contract. It has developed as an effective tool as a means of: minimizing taxes, asset protection, passing wealth onto heirs in privacy and without any probate or inheritance taxes. A pure trust is one in which there is a minimum of three parties: the creator or settlor, the trustee and the beneficiary and each is a separate entity. The settler is the person or entity placing property in the trust, the trustee administers the trust according to the wishes of the settlor and the beneficiaries are the persons or organizations named to benefit from the trust property. The super wealthy has been using trusts for decades. As jurisdictions create more effective laws, the pure trust structure has become more affordable and available for people with a moderate income. Today a trust can be established on short notice, for nominal fees and with minimal official procedures. Pure trust can be used in conjunction with foreign corporations to create international financial plans that maximize confidentiality, reduce taxes and minimize the risk of conducting business. Click here for more information on Pure Trust or to choose from a variety of related products and services. About The Author: Sharon Preston is a successful author and publisher of http://www.need-to-know-finances.com.  A one stop resource featuring information, reviews and articles related to the offshore arena.

 

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