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If you need help setting up a trust to protect your finances for your family, or wish to obtain further advice around trust creation and administration, our team can help.
What is a Trust?
A trust is simply a way of protecting an asset by separating the legal owner from the beneficiary. A trust can be created with anything of value such as a pension lump sum, a savings account or specific belongings such as jewellery or premium bonds.
Trusts are used to manage and maintain your assets and help in tax planning. It can be one of the most effective ways to protect your family assets. Trust can also help mitigate tax, protect a family business, make charitable donations or control the distribution of assets over time.
You can make a trust during your lifetime or within a will. Our trust solicitors offer advice on the different types of trusts and advise which type best suits your needs. We can advise on establishing new charitable trusts, administering the trust, appointing trustees or advising trustees on their powers and responsibilities.
Many of our clients want to ensure that the assets that they have worked so hard to build up over their lifetime, are preserved to be passed down to their loved ones or the next generation.
Our expert team can advise you on the legitimate steps that you can take to preserve as much as possible for your loved ones. We can advise you on all the possible options to preserve your assets in the event that you may need long-term care by carefully drafted wills, and guiding you through the complex pitfalls of the rules on ‘deliberate deprivation of assets’.
We can give practical advice on:
- protecting assets in the event of remarriages or relationship breakdown
- protection of pension and life policy lump sum death benefits
Our caring and friendly approach builds two-way trust, while our knack for putting technical legal language into plain English ensures our clients fully understand the issues and consequences of different courses of action. If you are looking for further help with life planning, our team can help:
Contact us today on 0191 232 9547 to speak to a specialist Solicitor. We can often provide you with a fixed fee cost which will allow you to move forward with the reassurance of having certainty as to legal costs.