A trust provides a way for you to retain control over your assets whilst placing them outside your ownership. Trustees are appointed who effectively hold the assets for the benefit of the beneficiaries. Trusts can be arranged in many different ways and can specify how and when the assets pass to the beneficiaries to suit the situation.
There are various reasons why you might want to set up a trust, including:
A trust can be created in your lifetime which is to take immediate effect (often referred to as a “lifetime settlement”) or it can be created on death through your Will (known as a “Will Trust”).
There are various different types of trust including:
Trustees have certain legal obligations that they must fulfil. If these obligations are not properly fulfilled then trustees can face legal ramifications.
How our trust solicitors can help you:
Please contact one of our specialist trust solicitors to discuss your requirements.