Trusts

Our solicitors can help you protect Assets and wealth for the benefit of your family now and in the future.

Family Trusts and Asset Protection

Providing for your family is an essential goal for most people but it is not always easy. Simply passing wealth on in your Will or as a gift while you are alive can sometimes be risky and inefficient.

We can help you set up your Trust to make sure that your family receives the most out of your Assets.

A Trust can:

• Protect assets for family members who cannot look after assets themselves
• Protect assets from business, creditors or divorcing spouses
• Preventing Inheritance from affecting someone’s entitlement to State Benefits
• Provide for both the current spouse and children from an earlier relationship
• Provide for young children in an Income Tax efficient way
• Protect family member’s Estates from large Inheritance Tax bills when they die
• Reduce your spouse’s Tax burden when you die

Trustees and Beneficiaries

When setting up your Trust, you choose the people who will look after your assets (Trustees) and who will benefit from them (Beneficiaries). You can leave instructions for how the Trustees should manage the assets and how they should distribute them.

The Trustees will continue to protect your assets after you have passed away or have lost the capacity to manage your own affairs. You can give your Trustees the flexibility to handle whatever new circumstances might arise after you have gone.

Different Types of Trusts

There are many types of Trusts that we can create on your behalf to protect assets for your family including:

• Full Discretionary Trusts
• Trusts with Income Entitlement
• Will Trusts
• Lifetime Trusts
• Specific Trusts for people with disabilities
• Personal Injury Trusts

The type of Trust which is best will depend upon your individual circumstances and what you would like to achieve.

You can give us a call on 01432 276 276 and we can advise on how we can help.