What is a trust?
A trust is something by which assets are controlled by one set of individuals (the trustees) for the benefit of another set of individuals (the beneficiaries).
How is a trust created?
Often a trust is created by a Will to take effect on someone’s death but it can be set up during your life.
Who chooses what?
You do. You choose the trustees, the beneficiaries and the assets to go into the trust.
Are there different types of trust?
Yes, depending on the format the tax consequences and effects of the trust vary.
How can we help?
We can advise and set up different types of trust tailored to your needs. We also offer a full ongoing trust management service. Our advice will cover:
- Drafting of trusts
- Advice on the interpretation of trust instruments
- Registering new trusts with HM Revenue & Customs and filing annual Tax Returns
- Preparing annual trust accounts
- Advice on the duties and liabilities of trustees
- Advice on the rights of beneficiaries
- Provision of professional trustees
- Preparation of ancillary trust documentation
- Advice on distributions to beneficiaries and the tax effects implications
- Winding up trusts
What about the cost?
Please just ask us - an enquiry costs nothing! We understand professional costs are a major concern for clients. We are flexible and transparent and will be happy to give you an estimate.