TRUSTS AND TRUSTEES SERVICES
There are many reasons why you might want set up a trust including reducing inheritance tax, protecting assets for beneficiaries or to even give you an income in your later years. The types of trust we can help with include:
Discretionary Trusts; for receiving your residuary estate, manage when and how your chosen beneficiaries inherit or to ensure assets are protected and invested until such time that they are needed
Life Interest Trusts; for providing for a spouse, partner or dependant during their lifetime but ensuring the fund ultimately passes to your chosen beneficiaries (see PPT video)
Vulnerable Beneficiary Trusts; for managing the inheritance of a beneficiary whose circumstances may dictate that receiving funds outright would be unwise either because of their personal or financial circumstances or simply to ensure they have assistance in managing the fund to achieve the best long term financial solution.
Life Insurance Trusts; to receive a life policy payment on death and avoid paying unnecessary inheritance tax or ensuring the fund is distributed in a way that suits the circumstances of all parties at the time of death.
Whatever your circumstance our experts can give you the advice you need so that the correct trust is put in place to achieve your desired outcome. This will involve helping you chose your trustees whether they are family members or a professional.
The extent of a trustee’s responsibilities, and the complexity of the role, depends on the type of trust and the assets held. For example, a ‘discretionary trust’ trustee is not only responsible for looking after the assets and making suitable investments but also responsible for deciding when to make capital and income payments to beneficiaries. Trustees are also responsible for declaring and accounting for tax on trust investments.
Understanding this complex area of law can be difficult and seeking professional advice or appointing a professional trustee is often a sound and sensible recommendation.
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We are proud to be British. Our company was formed in the UK, is based in the UK and always will be.
30+ years experience
With over 100,000 satisfied clients all over the UK, by choosing us to assist with your Will writing needs you are in good company.
In-house legal team
We have our own in-house legal services team that specialise in estate planning.