Trusts
A trust is a way of transferring assets such as money, shares, property, and personal possessions for someone else’s benefit.
When you put assets in a trust, they are under the control of an appointed person or persons called ‘trustees’. The trustees manage the trust according to your instructions, even after your death.
A common example would be a discretionary trust. Someone could transfer the family home into the trust, the beneficiaries could be your children. The property is transferred to the trust and is held and managed by the trustees for the benefit of the children.
A legal document, known as a trust deed, places the assets under the control of the trustees.
Trusts can be set up during your lifetime or can be set up within the Will.
Things to Consider
You can set up a trust to:
- Pass on assets to the next generation
- Fund education
- Reduce inheritance tax payments
- Provide for vulnerable loved ones
- Provide for children and partners from different relationships
- Manage personal injury compensation
- Protect assets from creditors or divorcing partners
Our lawyers work closely with you to provide a bespoke plan to cater to your individual needs and requirements.
We have vast experience with all aspects of trust law to offer tax-efficient, practical advice on creating, administering, changing, and ending your trust.
Estate Planning
Our Wills, Trusts & Estate Planning team have a wealth of experience in helping individuals protect their loved ones and put their affairs in order, during their lifetime and in the event of their death.
Many people have a mixture of assets comprising of property, business interests, and investments. If you need help to ensure that the most benefit reaches your next generation with a view to mitigating tax liabilities we can help.
We use a range of tools, from trusts and wills to deeds of variation. We know that everyone is unique and has their own special circumstances so we look at preparing bespoke plans designed around your needs, wishes and goals.
