Trusts can be created either during a person's lifetime or in their will. Whether you wish to create a Trust yourself or have been appointed as a Trustee and require assistance with the administration of the Trust, we will be able to assist you with all aspects of estate planning.
P ut simply, a Trust is an arrangement where one person or persons (the Trustees) hold something (usually money or property) for the use or benefit of another person or persons (the Beneficiaries).
Typically Trusts are used or arise:
- When the person entitled to the money or property is not capable of looking after it themselves e.g. because they are a minor or suffer from a mental or physical disability.
- Where different persons have different interests in the same property, e.g. where one person is entitled to live in a house for life and someone else is entitled to receive it after their death.
- When someone wishes to dispose of property they own by way of gift but either wish to retain some control over the property or to continue to derive some benefit from it.
There are many different types of Trust, but most arise:
- Under the terms of someone`s Will on their death.
- When someone transfers money or property which they own into a Trust for the benefit of others.
Our Trusts & Estate Planning Services
We can offer estate planning advice and assistance in relation to a wide variety of Trust related matter for example:
Trust Law can be complicated and may often involve rights and responsibilities which may not be apparent at first sight. If you want to ensure that the interests of different persons in property or money are properly protected and administered then you should take legal advice. We will be happy to assist with any queries you may have and provide you with the right estate planning advice.
Although we are not authorised to give financial advice, we can help with a range of property matters including preparation of Lasting Powers of Attorney (see separate section on this) Wills and administration of Estates (see separate section as to this) and a wide range of other matters. Please contact us for further details and to discuss your requirements, and make sure you are getting the right estate planning advice.