STEP, the international body of trusts and estate practitioners, has published a report on the Social and Economic Benefits of Trusts, which draws together existing evidence and research about the ways in which trusts can be, and are, used for wider societal benefit and how they impact every facet of society. While written principally from the UK perspective, many of the points relate to the perception of trusts in Ireland. The aim of the paper is to improve understanding and address common misconceptions, presenting the positive evidence base and shining a light on how and why trusts are used.
