Common features of trusts

All trusts have the following in common:

• Trustee: the trustees are the people that control the trust and are responsible for managing the trust assets and the day to day running of the trust.
• Trust deed: The trust deed outlines the rules of the trust, and the trustees must ensure they follow these rules.
• Beneficiaries or unit holders: These are the investors/people that may receive income and/or capital distributions from the trust.

The main types of trusts include:

• unit trust
• discretionary trust
• hybrid trust.