Trusts are no longer only for the ultra-rich

When most people hear the word trust, they assume it’s something only the ultra-wealthy need to worry about. Something reserved for billionaires trying to manage estate taxes or pass down dynastic wealth.

But that’s no longer true.

Today, more professionals and families are using trusts as a simple, effective tool to protect assets, provide for loved ones, and ensure their money is used according to their wishes—even if they’re no longer around or able to decide for themselves.

It’s easier to set one up than most people think.

Here’s a guide to help you understand what’s involved.

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Phase 1: Plan With Purpose

Be Clear on Why You Want a Trust

Most people set up trusts for one of these reasons:

• • To protect assets for children or dependents
  • To manage wealth in the event of illness or mental incapacity
  • To avoid family disputes or mismanagement
  • To pass on wealth without complications later

Your objective sets the direction for the rest of the setup.

Choose the Right Structure

The most common types include:

• • Living trusts (activated while you’re alive)
  • Testamentary trusts (activated through your will)
  • Revocable (can be changed)
  • Irrevocable (can’t be changed, but offers stronger protection)

What you choose depends on how flexible or protective you want the trust to be.

Decide Who’s Involved

Pick a trustee—someone or a professional company you trust to manage the assets.

Name your beneficiaries and decide how and when they’ll benefit (e.g. age milestones, fixed payouts, or specific situations).

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Phase 2: Set Up the Trust

Identify the Assets You Want to Protect

You don’t need to move everything. Start with what’s important:

• • Investment accounts
  • Cash savings
  • Insurance payouts
  • Business shares
  • Property

Draft the Legal Document

This trust deed oulines your instructions, distribution rules and the trustee’s responsibilities. Work with a trust service provider or lawyer to get this right.

Fund the Trust

Once the structure is in place, move the selected assets into it. This step activates the trust. Until then, it is just a plan on paper.

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Phase 3: Maintain and Review

Review As Life Changes

Trusts aren’t fire-and-forget. Revisit the structure when there’s a major life event—marriage, illness, children, or a significant change in finances. If it’s a revocable trust, you can make updates easily. For irrevocable ones, you’ll need to plan carefully from the start.

If you’ve built up savings, investments or property, you already have something worth protecting. A trust gives you control over where that money goes and peace of mind for those you care about.

If this sounds important to you, we’d be happy to have a chat. No jargon, no pressure. Just a conversation about what matters most to you.