A properly established trust is a superior means of protecting one’s wealth. Individuals may employ a trust to secure a number of advantages, including:

• Reduction or deferral of tax liabilities;
  
• Simplification or elimination of the legal formalities connected with the distribution of assets upon the death of the settlor or beneficiaries;
  
• Ability of a trust to take into account changing situations, if an appropriate degree of discretion is given to the trustee;
  
• Enhanced anonymity. A trust, unlike a will, is a private document. Its creation by the settlor during his lifetime is a confidential arrangement;
  
• Assurance of continuity of highly competent administration. With a corporate trustee there is an added advantage in that it is not subject to illness, old age, death, or any human frailty which can befall an individual;
  
• Increased protection of assets from political risk which could otherwise result in a temporary freezing, limitation on use or even confiscation;
  
• Redistribution and protection of assets on migration from one jurisdiction to another.