Ownership of assets is transferred to the trustee with the beneficiaries having beneficial interest.
Trustees have unlimited personal liability for all liabilities and expenses incurred in their management of assets. The degree of this liability, however, can be limited in the trust deed.
Right to information
Beneficiaries have the right to information on the assets and accounts held by the trust.
Trusts can continue for a maximum of 100 years.
Income of the trust can be accumulated for the duration of the trust, unless the trust deed either prohibits the accumulation of income, or directs the income to be accumulated for a period shorter than the duration of the trust.