Protecting your interests with a trust.
Our expert team of solicitors will help you set up a trust to provide for your loved ones, protect your assets or reduce inheritance tax liability after your death.
I want to make sure my wishes are respected.
We’ll help you safeguard what’s important.
Trusts have been used for many years and have many practical uses and benefits. They can help you to provide for a vulnerable person, or assist with estate planning. Used correctly they can also reduce inheritance tax liabilities or ensure that assets are passed onto the next generation.
The right support for you.
There are many types of trust, with different trusts being appropriate for different situations. For example, a trust can help you protect a compensation award or protect your share of the family home after your death, if your spouse should remarry. Trusts can also be used to ensure that any death benefit is protected from future inheritance tax charges, while at the same time allowing your spouse to benefit from the money received.
You can create a trust during your lifetime using a trust registration service whereby you can be the trustee, therefore retaining control of the assets, or a trust can be created on death, where you name in advance your trustees. Child trust funds are also popular to provide peace of mind if you have children.
With years' experience of creating and administering trusts our specialist Wills, Probate & Lifetime Planning Team can advise you as to the most appropriate type of trust for your individual needs. We can give you practical advice as to the role of a trustee from setting up a trust to the tax consequences of each type of trust.
Our specialist Wills, Probate & Lifetime Planning Team have a vast range of experience in trusts – with many being members of the Society of Trust and Estate Practitioners (STEP). We understand that everyone is different too, so we’ll advise you on the most appropriate trust for your personal needs, in line with the latest trust and tax legislation.
We’ll advise you on:
Probate law - what it is and how long it can take
Lasting Powers of Attorney (LPA) - applications and costs
The Office of the Public Guardian
Court of Protection
Probate forms
International probate law
Grant of probate
Executor of will
Wills
Death certificates
Working With Our Service Team
We understand that planning for the future and protecting your loved ones, is one of the most important things we will prepare for. Our trusted and compassionate team are able to advise and put into place all of the foundations for you and your family, keeping you updated at all times.
- Kim Carr
If you have an enquiry in relation to Wills, Trusts and Probate or simply want to speak to a member of our expert team, please get in touch.
A Trust is a legal mechanism whereby assets are managed by Trustees for the benefit of beneficiaries. There are many reasons why people choose to have Trusts:
- To control and protect family assets
- When someone’s too young to handle their affairs
- When someone cannot handle their affairs because they’re incapacitated
- To pass on assets while you’re still alive
- To pass on assets when you die (a ‘will trust’)
- Under the rules of inheritance if someone dies without a will (in England & Wales)
Life can be unpredictable at the best of times and so there is never a better time to get your affairs in order than now. If you have an asset in which you would like to protect in the event of your death / loss of mental capacity then you should protect this as soon as possible.
Yes, you have the option to appoint yourself or someone else as your Trustee, the decision is completely up to you. We would always recommend you speak with a legal advisor before committing to a Trust.
In the UK you can often register a trust as a trustee. A trust is a legal arrangement where one or more persons, known as trustees, hold and manage assets for the benefit of others. Setting up a trust involves creating a trust deed, selecting beneficiaries, and defining the rules and conditions of the trust.
The trust may be used for various purposes, such as inheritance tax planning or protecting assets. Some types of trusts, like will trusts, may need to be registered with HM Revenue & Customs (HMRC), particularly if they generate income or gains subject to tax.
Understanding what is a trust and the legal obligations of a trustee is essential, and consulting with trust solicitors specialising in trusts and inheritance law may be advisable to ensure compliance with all legal requirements.
A trust fund is a legal entity that holds and manages assets on behalf of specific beneficiaries. Established by a trustor (the person who creates the trust), a trust fund is controlled by a trustee who is responsible for administering the assets according to the terms set out in the trust agreement.
Trust funds can include a variety of assets such as cash, stocks, bonds, property, and more. The purpose of a trust fund can vary widely, including providing financial security for family members, supporting charitable causes, or managing inheritance.
Trust funds are often used as a tool for inheritance tax planning. They can offer benefits such as protection against creditors and control over how and when the assets are distributed. Understanding what is a trust and seeking professional advice from Solicitors or trust experts can be vital when setting up a trust fund in the UK.
A trust deed is a legal document that sets out the terms and conditions of a trust. It is essentially the governing document that outlines the rules under which the trust operates. The trust deed specifies the roles and responsibilities of the trustee, the rights and interests of the beneficiaries, and the nature and purpose of the trust. It may detail the assets within the trust, the conditions under which assets may be distributed, and any specific instructions regarding the management and investment of the trust's property.
Trust deeds are fundamental in setting up a trust, and their creation should be carefully considered with the assistance of legal professionals, such as Solicitors or experts in trust law. Having a well-drafted trust deed is essential to ensure that the trust operates smoothly and in accordance with the intentions of the trustor.
