Trust creation
Creating a trust can have significant tax and other advantages.
A trust is a legal arrangement where 'trustees' hold assets for the benefit of 'beneficiaries'. Trustees should be aware of a trustee's duties and powers.
A trust can:
- play an important role in estate planning and saving tax
- provide a flexible way of looking after assets for those who cannot do so themselves
- protect assets in the event of divorce or financial difficulties
- ensure that your assets are distributed as you wish, before or after your death
- be used for charity governing documents
- protect means-tested benefits.
We can deal with the creation of trusts, including:
- discretionary trusts
- life interest trusts
- bare trusts
- charitable trusts
- trusts for death benefits (see our death benefits trust instruction form)
- personal injury trusts
- discretionary trusts in Wills.
We can also advise on the Inheritance Tax and Capital Gains Tax implications of setting up a trust, and assist trustees with trust management.
For further information please contact one of the team.