17:30 Jan 18 

Very simply, a trust exists when someone (the trustee) owns property on behalf of another person (the beneficiary). The trustee is the legal owner of the property and the beneficiary is the beneficial owner of the property. The trustee is required to deal with the property in the interests of the beneficiary and in accordance with the terms of the trust, which are often detailed in a trust deed. Trusteeship does involve fiduciary duties. There is a lot more to this topic, but I hope this brief note suffices.