FAQs about Trusts

What is a Trust?

A Private Express Trust  (PET) is very much like a will you make while you are still alive. In your trust you name your beneficiaries and the items that are included, just like you would with a will.
A PET declares that your home, car, possessions, and anything else you wish to include is not just solely yours, as your beneficiaries have a claim on it.
This offers protection as there are multiple parties involved, so any issue with any of these items that are held in Trust cannot be dealt with by a normal court, it has to go to the Chancery court.
Additionally having a PET means that your relationships with organisations, corporations and other legal bodies are also incorporated into the trust, and therefore the Trustees can intercept for you with issues you may face.

Do I need to Change Ownership of Items?

It is often a misconception that we have to give up ownership of our possessions to put them into Trust but this is not necessarily the case. You can change the ownership or registration name of an asset into the name of your Trust, and this offers extra protection for yourself, but it is not necessary. Everything can stay in your name, All you are doing is declaring that other people have an interest in anything that’s in your Trust, however ownership of these possessions will usually only pass onto the beneficiaries upon the death of all trustees, just like an ordinary will.

So you could think of it as putting a bubble around you and your assets, one that is difficult for the system to penetrate! In that sense you are making your possessions more secure, not giving them up.

Do I need to show my Trust paperwork to anyone?

All paperwork is completely private and confidential, though we have designed the front page of our Trust declaration with minimal private details on so it can be shown without revealing private information if you should need to prove that a Trust is in place.

Do I retain control of my assets held in Trust?

You retain complete control of your assets, you are free to buy, sell, move house, change car provided that it is reflected in your trust document, and this can be easily remedied by amending your assets list document.

What is a Community Trust and what are the benefits of signing up to Cymru CT?

A Community Trust is a network of PETs held in Trust. It has Trustees and its beneficiaries are the trustees and beneficiaries of all its PETs.

This means that a PET within Cymru Community Trust is a Trust held within a Trust, offering 2 layers of protection, and enabling Cymru Community Trust to intervene as a third party where there are issues involving you or any of your trustees or beneficiaries.

Why use Trusts?

Trusts are recognised in the current UK Government and the International System.
In the UK we have the Recognition of Trusts Act 1987 so all authorities and companies in the UK must recognise Trusts.

Trusts have their own Court for resolving Trust issues, in the UK this would be the Court of Chancery which is part of the High Court.

Trusts are also recognised internationally by the Hague Convention of July 1985 on the Law Applicable to Trusts and their Recognition.

When expressing a Trust you can define your own rules or law that companies are obliged to comply with. For example, when arguing with a debt collector, they may quote the Consumer Credit Act 1974, which states that they only have to provide you with statements and a copy of your original agreement when requested, but if your Trust law is that they have to provide you with proof of actual loss, and anything else you want to request before a debt is settled, then that is what they need to do. This is because under UK legislation Trust law overrides Statute Law, as stated in the Supreme Courts Act 1981 Section 49.

How long have you been established?

Cymru Community Trust was established in 2011. Over the years we have had many success stories and helped many families free themselves of unfair and unjust debts, discrimination and other wrong-doings against them. Many of these case studies we share at information events. We have worked continuously since 2011 on behalf of many beneficiaries throughout Wales, and some further afield.