There could be many reasons why you might want to create a trust. For example, you might want to look after assets for your children whilst they are too young to manage them themselves, or because you want to make a gift to someone without losing control over how the asset is managed. Trusts can also be used to ensure that the death benefits of your life assurance policy do not form part of your estate for Inheritance Tax purposes.

Trusts can either be set up during your lifetime or can be included in your Will so that they come into existence on your death. Our trust lawyers can advise on the creation of new trusts and can give clear advice on the Inheritance Tax, Income Tax and Capital Gains Tax implications of doing so.

Once a trust has been created, certain compliance issues need to be observed and we can guide you through the management of the trusts.

Where appropriate we can assist you with amending the terms of an existing trust whether it is to change the trustees, pass trust assets to beneficiaries or even terminate the trust completely.

Our team deals with the general administration and taxation of trusts for individuals, families and charities.

This includes:

  • creation, administration and termination of trusts
  • advice to trustees and beneficiaries
  • trust taxation
  • offshore trusts
  • preparation of accounts and trust tax returns.

They provide prompt attention to queries and clear communication to the client. They are readily available for meetings and discussions too.

Legal 500 [UK 2024]

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