Trust Creation

Now you have decided to make a Will, you may need to consider setting up one or more Trusts to manage assets you want to leave for the benefit of:

  • Young beneficiaries whose inheritance can be managed until they reach a certain age
  • Those incapable of handling their own affairs
  • A beneficiary who you want to receive income or some capital during their lifetime, only to pass the capital on to the next generation
  • You can get advice from us on how to best achieve your wishes including:
  • Discretionary Trusts which include a loan clause
  • Life interest Trusts
  • Protected Trusts

Life Interest Trusts are particularly useful if you wish to keep control of certain assets such as land, but still wish to make a gift of it after someone has had the benefit of it for their lifetime.
You need to appoint Trustees to administer any Trusts you create and we can help with the ongoing administration of them as we do for many of our Clients.

Administering a Trust

Trust administration is a minefield!

A Trustee’s duties are onerous and the role can be daunting when you are faced with the technical issues involved.

Our practical advice will help you through the challenges involved in being a Trustee leaving you time to make the important decisions that are at the heart of the scheme involved.

You will be able to rely on us to:

  • Provide a high quality and efficient service
  • Explain what is involved in plain simple English avoiding technical jargon
  • Prepare Annual Accounts and Tax Returns
  • Complete Inheritance Tax Returns
  • Arrange the appropriate payments of Tax that falls due
  • Advise you in relation to income and capital distributions and relating Tax consequences
  • Assist you in agreeing a suitable investment policy with your investment advisers and help you monitor investment performance
  • Help you perpetuate the protection inherent in Trusts for the benefit of the next generation and to simplify the administration involved as far as possible