Trusts have been around for a long time. The Trustee Act 1893 is still on the statute books. The Iveagh Trust is the oldest housing charity in Ireland, and was set up by Edward Cecil Guinness in 1890.

There are various definitions of a trust:

– “An arrangement whereby a person (a trustee) holds property as its nominal owner for the good of one or more beneficiaries.”

– “A relationship in which the holder of property (or any other transferable right) gives it to another person or entity who must keep and use it solely for the benefit of another person or group of persons.”

– “A relationship created at the direction of an individual, in which one or more persons hold the individual’s property subject to certain duties to use and protect it for the benefit of others.”

To find out more about the structure and uses of Trusts click here or on the image below: