Many businesses we service have a trust.

There are various types of trusts including corporate unit, discretionary investment, discrestionary services management, discretionary trading, fixed unit, hybrid, state government fixed unit and other.

A very crude way of understanding a trust would be to consider it as a trailer that attaches to a prime mover (eg sole trader or company). The trust (or trailer) holds the assets. If the prime mover changes then the assets are controled by the new prime mover. So rather than having to transfer assets between entities, the assets simply stay on the trailer. Furthermore, this may provide some asset protection if anything untoward happens to the prime mover.

Furthermore the assets may then be distributed from the trailer (trust) to whoever is listed as a beneficiary of the trust. This feature may enable tax savings.

Certainly see your solicitor or accountant for structure advice.