The below information is courtesy of STEP (Society of Trust & Estate Practitioners)
Trusts have a longstanding foundation in the English common-law tradition, but they appear
to remain subject to an external perception that they are available only to the super-rich or are
used to hide assets or for other improper, if not outright illegal, purposes.
Most of the factual, thoughtful or philosophical articles, essays and reports about trusts open
with historical anecdotes. This is not a quaint narrative artifice: it is a testament to their
resilience and longevity. It shows an enduring reliance on the concept of trusts, whose origins
are deeply rooted in principles of fairness and equity. Predicated on the protection of
familial interests, they may seem irrelevant to the general public, but in reality, a material
proportion of the population in the UK, for example, is likely to comprise beneficiaries of
trusts, principally in the form of trust-based pension schemes.