Trusts & Tax

Although trusts can seem difficult to understand, they can have their benefits and certainly worth being considered by everyone.

Trusts are often thought of as being used to save tax however there are actually a number of types of trusts and many reasons for using them. For example they can also provide protection of assets for future generations of your family and protect vulnerable people including personal injury trusts.

It is important to ensure you are properly advised as to ensure you choose the correct trust and aware of how to structure the trust to ensure it is as efficient as possible from a tax perspective.

Reasons for setting up a trust include:

  • To minimise your Inheritance Tax bill
  • To provide protections of assets from care fees
  • To provide for the continuation of existing means-tested benefits
  • To provide protection against divorce claims against your children
  • To manage assets for minor children until they are old enough to take control of the assets themselves
  • To provide for your spouse on your death whilst ensuring you protect assets ultimately for your children
  • To manage assets for a vulnerable beneficiary

Our specialist trust solicitors have many years of experience in advising on these matters. We can advise you on all aspects of setting up and managing a trust. It is vital that we are able to understand your objectives so we can ensure the advice we provide is tailored to you.

Our solicitors can also act as trustees or can continue to advise and assist the trustees as their solicitors.
If you are considering setting up a trust or would like advice on an existing trust please do contact us to speak with one of our solicitors.

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