The use of trusts, either set up during a person’s lifetime as a means of estate planning, or upon death through a person’s Will, is a complex area that requires careful consideration of trust law and the way that trusts are taxed. Trusts vary so much depending on the purpose for which they are created. It is important to establish from the outset what type of trust is most suitable.
The nature of a trust in essence is a straightforward concept. In simple terms assets are placed into a trust and are managed by trustees for the benefit of named beneficiaries. The choice of trustees and beneficiaries is made by the person creating the trust. Whilst the concept of a trust is generally straightforward, often the circumstances surrounding the creation of the trust are more complicated, and it is these circumstances that influence what type of trust is most appropriate.
The firm’s directors are willing to be appointed as professional trustees if required although we always suggest that there is at least one lay person as a trustee.
Please call 01685 886 611 or contact us online to book a free Trust consultation. We offer a home visit service for our elderly clients who are unable to easily attend our office, as well as hospital visits if required.