Trust Lawyers
Our Private Wealth & Inheritance team have specialist trust solicitors to help with protecting your assets.
Our Trust solicitors within our Private Wealth Team can advise on how Trusts can be utilised to safeguard your assets for the future. Our team can also assist with the day-to-day administration of Trusts.
Despite the perception that they are primarily to do with saving tax, there are many different types of Trusts and reasons for using them. However, one of the more common reasons for using Trusts are to protect assets for family and loved ones.
What are the reasons for setting up trusts?
- Holding assets for minor children until they are old enough to receive them
- Providing for a spouse while protecting assets ultimately for your children
- Holding funds for a vulnerable beneficiary
- Paying grandchildren’s school fees
- Safeguarding against divorce or bankruptcy claims against children
- Protection from care fees assessed against a loved one
- Continuation of existing means-tested benefits
- Protection from Inheritance Tax
What are popular types of trusts?
- Age-contingent Trust
- Bereaved Minors’ Trust
- Bare Trusts
- Children’s Trust / Grandchildren’s Trust
- Discretionary Trust
- Disabled Persons’ Trust
- Trusts of Land
- Lifetime Trust
- Life Interest Trust
- Nil Rate Band Trust
- Will Trust
The importance of seeking proper advice
Although Trusts can be flexible and useful, it is always important to ensure that proper advice is sought before entering into any Trust arrangements as there may be unintended consequences.
If you would like advice in relation to Trusts, please get in touch with Charlotte Woods in our Private Client Department to discuss a solution.
Our trust lawyers regularly advise on:
- Why, when and how to set up Trusts
- Which type of Trust would be most appropriate for your circumstances
- When they can be implied from existing circumstances
- Tax consequences and tax mitigation
- Choice of Trustees
- Trust management
- Compliance with tax obligations and regulatory requirements
- Winding up Trusts
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