In its most simple form, a trust is a way of managing the assets of an individuals estate which may include money, investments, land, property, jewellery etc) and is a legal way of protecting the assets and what happens to them both during your lifetime or after you die.
When a trust is created, the Settlor (the person who requires his/her assets to be put into a trust) will give powers to the Trustee (the person who manages the Trust on behalf of the Beneficiary (the person who benefits from the Trust.
Trusts are created for a number of reasons and will include (but not limited to):
- To control assets when the beneficiary is considered to be too young.
- To protect and control the assets of an individual or a family
- To ensure assets are managed in the event that a person is incapacitated or unable to make decisions.
- To pass on assets when a person is still alive
- To pass on assets when a person has died
- Help to mitigate inheritance and capital gains tax (see Tax and Estate Planning)
- Protect means tested benefits
How we help
Our experience Trust lawyers work with our clients to understand their issues and the reasons for a Trust to be created and to protect the wishes of our client and their assets.
Trust can become complex due to the rules that surround them and they change on a regular basis. Taking advice from our expert trust solicitors will ensure your Trust is created in accordance with all up to date legal requirements.
We will guide and advise you on the appropriateness of a Trust and discuss with you the practical considerations. When we have agreed with you the need for a Trust and the requirements, we will draft the necessary legal documents.
Where necessary we will also help you choose the appropriate Trustees and in some circumstances you may be able to appoint one of our Trust Solicitors as a Trustee. This will mean that we will carry out the requirements of the Trust dealing with all legal matters to protect the assets and the beneficiaries. As necessary we will ensure the Trust is kept up to date with legislative changes.
If you have been appointed a Trustee and you require guidance or advice about your duties our Trust Solicitors will work with you to understand the Trust and the obligations imposed on your by it and guide you on the action you must take to ensure you comply with the requirement of the Trust.
We will provide you with clear and transparent fees so you understand the fees you will incur and when. We will always seek to be competitive at all times and ensure our fees reflect the work we are required to perform on your behalf.
Get in touch
To speak with one of our Trust Solicitors or Lawyers you can call us on 020 8446 9555 or email us, email@example.com and we will call you back