Not all trusts have to be complicated but it is important to fully understand how they work and what is required to prevent mistakes and problems in the future.
We have many years of experience in creating, administering and supporting trustees with trust management.
A trust can be set up in your lifetime or in your will. A trust is created when a person (“the settlor”) gives assets to other people (“the trustees”) to hold, not for their own benefit, but for the benefit of others (“the beneficiaries”).
What are the benefits of placing assets into a trust?
minimising tax, either during your lifetime or as part of your will planning
providing protection to inheritance for a vulnerable beneficiary
protecting funds earmarked for a specific purpose such as a grandchild's education or assistance with a deposit for the purchase of a property
safeguarding money obtained from an injury claim and helping to ensure that state benefits are not lost
protecting assets from care fees