Trusts Solicitors
We can advise you on all aspects of Trusts, whether it be advising on tax implications of Trust Deeds, setting up, administering or winding up a Trust.
More about Trusts
Our team of experienced trust solicitors are here to provide you with expert legal advice and guidance on all aspects of trusts. Whether you need help setting up a trust, managing an existing trust, or navigating the complex tax and legal implications of trusts, we are here to help.
Our trust solicitors understand that trusts can be a complicated area of law, but with our specialist knowledge and personalised approach, we can ensure that your interests are protected and your objectives are met.
Trusts can be a useful tool in protecting and managing your assets, as well as ensuring that your wishes are carried out after your death. Our priority is to provide you with tailored, practical solutions that meet your specific needs and objectives.
What is a Trust?
A trust is a legal arrangement in which assets are held by trustees on behalf of one or more beneficiaries. The trustee are responsible for managing the assets of the trust,and making decisions about how the assets are used to benefit the beneficiaries.
Trusts are useful mechanisms whereby money is held by Trustees on behalf of beneficiaries. Trusts can be created in your lifetime or upon your death via your Will. There are several types of Trusts serving different purposes. The trustees can be family members or friends, or professional trustees such as accountants, solicitors or a Trust company. They will hold the Trust Fund and act in accordance with the terms of the Trust deed or Will.
What is a Trust?
A trust is a legal arrangement in which assets are held by trustees on behalf of one or more beneficiaries. The trustee are responsible for managing the assets of the trust,and making decisions about how the assets are used to benefit the beneficiaries.
Trusts are useful mechanisms whereby money is held by Trustees on behalf of beneficiaries. Trusts can be created in your lifetime or upon your death via your Will. There are several types of Trusts serving different purposes. The trustees can be family members or friends, or professional trustees such as accountants, solicitors or a Trust company. They will hold the Trust Fund and act in accordance with the terms of the Trust deed or Will.
Why set up a Trust?
Examples of why you might consider setting up a Trust are:
To benefit your children or grandchildren whilst they are minors whether it be during your lifetime or upon your death
To provide for a family member who is physically or mentally incapable of dealing with their own financial affairs
To preserve monies received as part or all of a personal injury damages award. It may be advisable to place these monies in a Personal Injury Trust, a Trust designed to protect entitlement to means tested benefits following a Personal Injury damages award.
Family Trusts and Asset protection - to ensure that the family assets ultimately stay within the family.
To mitigate tax liability by creating a Trust for death benefits or a life insurance policy
We can advise you on all aspects of Trusts, whether it be advising on tax implications of Trust Deeds, setting up, administering or winding up a Trust. We are also happy to act as Trustees and regularly do so for our clients.
Why set up a Trust?
Examples of why you might consider setting up a Trust are:
To benefit your children or grandchildren whilst they are minors whether it be during your lifetime or upon your death
To provide for a family member who is physically or mentally incapable of dealing with their own financial affairs
To preserve monies received as part or all of a personal injury damages award. It may be advisable to place these monies in a Personal Injury Trust, a Trust designed to protect entitlement to means tested benefits following a Personal Injury damages award.
Family Trusts and Asset protection - to ensure that the family assets ultimately stay within the family.
To mitigate tax liability by creating a Trust for death benefits or a life insurance policy
We can advise you on all aspects of Trusts, whether it be advising on tax implications of Trust Deeds, setting up, administering or winding up a Trust. We are also happy to act as Trustees and regularly do so for our clients.
Trusts FAQs
What's the benefit of setting up a Trust?
People are often confused by Trusts and think that they are just for the very wealthy. In reality, Trusts can be a very useful way of providing for your family and protecting assets as well as assisting with estate and tax planning.
When should I consider using a Trust?
If you have remarried and want to provide for your spouse and protect your assets for your children. If you have a vulnerable beneficiary who would not be able to look after assets for themselves. If you have beneficiaries who may receive state benefits and support, including long term care. A Trust can enable you to make provision for them without affecting the financial support that they receive. For beneficiaries who are likely to be financially imprudent. If you are receiving compensation for a personal injury, protecting the award in a Trust can make sure that you do not lose entitlement to means tested benefits and support. If you want to give assets away in your lifetime but do not feel that your beneficiaries are ready to receive the money yet.
Our dedicated Wills, Probate, Tax & Trusts team
Contact Us
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0800 975 2463 - Monday - Friday: 09:00 - 17:00
Please note that our offices will be closed from midday, Friday 20th December 2024
The offices will be open as usual on Monday 23rd December 2024.
The offices will then be closed from Tuesday 24th December through to Wednesday 1st January (inc), reopening as usual from 2nd January 2025.
The emergency contact number during this time is - 01772 220022 or 01254 675050.