Set up a Trust With Expert Legal Help
Speak to a specialist trust solicitor for free today by calling 01271 343457.
What is a Trust?
A trust is a legal vehicle which is set up to administer funds on behalf of a beneficiary. Trusts are a very useful way of protecting your assets, to ensure that they benefit your loved ones who need it the most.
They are also an important aspect of tax and estate planning, which aims to ensure that after you die the burden of Inheritance Tax upon your estate is minimsed.
How is a Trust Set Up?
A trust can be created in two ways. Firstly, if you want to set up a trust whilst you are still alive, you will need to have a Trust Deed drafted. Secondly, if you want to set up a trust to take care of someone after you have died, you can set up the trust in your will.
Why Should I Set Up a Trust?
There is a perception that trusts and trust funds are just for the wealthy, but this is not the case. If you have any assets at all, by creating a trust you can protect young and vulnerable beneficiaries, such as your children or any disabled relatives who are dependent upon you.
You can also provide for other family members and those you care for. For example, if you have been married more than once, you may wish to set up a trust specifically to care for your children from a previous marriage or relationship.
Can Trusts Help With Nursing Home Fees?
Trusts are a good way of protecting your assets from exposure to nursing home fees later in life and, in some circumstances, in mitigating the inheritance tax burden on your estate.
If it will be beneficial to you, we may advise that you set up a trust as part of our tax and estate planning services.
What Do I Do If I Want To Set Up a Trust?
A trust is a specialist legal document, whether it is created using a Trust Deed, or in a will, and it is important to speak to an expert lawyer about setting up a trust, to make sure that it is valid.
If you want to provide for your children from a first marriage, or if you need advice about whether a trust would be appropriate for you or your loved ones, we can help.
If you would like advice about trusts contact one of our specialist team for a no obligation, free assessment today.
Latest Set up a Trust With Expert Legal Help News
A trust is a complex legal vehicle and it is important that you seek advice from a qualified lawyer to help you through the process.29/08/2022
If you have a disabled child, you will no doubt worry about how they will be cared for after you pass away. A trust could be the answer.10/10/2019
If you have a new partner and want to protect your children's inheritance, a life interest trust could be just what you need.16/01/2019
If you wish to make financial provision for a disabled child or relative, whether in your will or during your life, a disabled trust offers many benefits.13/10/2016