Understanding Trusts

Trusts can be a useful part of estate, succession, and family wealth planning, but they are often misunderstood. The different types of trusts can seem similar at first, yet their purpose, structure, flexibility, and tax treatment can vary significantly.

This Navigator topic is designed to make trusts easier to understand. It explains the key differences between discretionary trusts, fixed trusts, and bare trusts, and explores where each may be relevant in practice.

You will see how discretionary trusts can offer flexibility and protection, how fixed trusts can provide certainty, and how bare trusts may offer a simpler structure in certain situations. The material also looks at how trusts interact with Irish tax considerations, including areas that may affect succession planning, family wealth, and future decision-making.

Rather than focusing on abstract theory, this topic is presented in a clear and practical way, helping you understand the role trusts may play, where opportunities may arise, and where risks or professional advice may be needed.

Whether you are exploring trusts for personal, family, business, or advisory reasons, this resource is designed to help you feel more informed, better prepared, and more confident asking the right questions.

Access this Navigator topic to better understand discretionary, fixed, and bare trusts, and the role they may play in future planning.