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Glossary of terms used on this site

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Term Definition
Unit trust

A trust is a relationship where a trustee (an individual or a company) carries on business for the benefit of a range of people (known as beneficiaries). This is a non discretionary Trust. A unit Trust may have an external trustee or be written so that all unit owners act as joint trustees.

It is commonplace for the trustee of a trust to be a company (referred to as a corporate trustee) because this is more litigation and tax effective.

Aliases: Non Discretionary Trust
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We are in a syndicate raised by us to purchase a commercial winery. Our accountant was concerned about potential withdrawal of capital and the effect this would have on our bank and remaining backers. Jim was asked to come in, sort it out and get written agreement from all parties as to the movement of capital. He delivered everything we needed and more. Every syndicate member was relaxed and so were our bankers. The legal side was set up by a solicitor of Jims suggestion and it was the simplest set of actions for us all to achieve security of investment.