A trust is a legal arrangement whereby one or more people (trustees) hold assets for the benefit of other people (beneficiaries). Those assets are often property or other investments.
A trust is created by the settlor who transfers his or her own assets to the trustees, specifying how and for whom those assets can be used and what powers the trustees have. A trust can be created during the settlor’s lifetime, but can also be set up in his/her Will (in which case the “settlor” is known as the “testator”).
There are many different types of trust, e.g. bare trusts, interest in possession trusts, discretionary trusts, accumulation trusts, settlor-interested trusts and non-resident trusts.
The law can also deem that a trust exists, even where no trust document exists. For example, a constructive trust arises where someone buys property and holds that property in his/her sole name, but for someone else (e.g. someone who has contributed in some way).
Disputes in relation to trusts can arise for a number of reasons, including:
Decisions on whether trustees should get involved in disputes and how they should pursue them carry potentially serious personal cost consequences for trustees. Our team has experience in dealing with disputes in all of the above listed circumstances and many more.
We also work closely with our specialist Wills, Probate, Trusts and Tax Planning team, and advise on preventative measures that can be taken by clients to try to avoid trust disputes.
Clearly explained what was being done at every stage
Efficient, effective, friendly and helpful.
The advice and support from the initial phone call through to the completion of the document was clear, thorough and very efficient. I felt I received a personal service tailored to my needs
Thank you for providing such clear advice and executing this in such a painless and professional way. I don’t think I can recall the last time someone did some professional work for me where there were no typos or mistakes, or where I didn’t have to chase and do part of the work myself
The communication, attitude and professionalism was exceptional from James. He was very helpful and understood exactly why we needed legal assistance. He spent a lot of time getting to know us and advising us. We got the best outcome possible and he was very helpful.
May I add my thanks for all you have done and achieved. If I may say, so you have dealt with this difficult situation in a very sympathetic way and have always been clear with your advice, and your letters are without doubt excellent.
