Family trusts are set up for a number of purposes but their main purpose is to rearrange asset ownership in order to protect the assets owned by the trust.
Assets can be added to the trust at any time.
Trusts need to be properly administered and to comply with legal requirements. There are also legal provisions, which can defeat the very purpose for which the trust was set up in the first place. A lawyer can advise you if a trust is going to achieve the outcome you want. There may be better ways to protect your property.
