Trusts are a useful way of protecting assets for future generations. Trusts are often used to protect vulnerable beneficiaries, to ringfence assets or to provide tax effective planning.
Trusts can be set up during your lifetime or included in your Will, whether a trust is right for you depends on your circumstances and what you are trying to achieve.
Trusts can also be useful for blended families where there are children from previous relationships and you want to protect assets for those children.
Our team can advise on what type of trust is best for you.
Once we know what type of trust works for you, we will provide you with a fixed fee quote.
If you are already a trustee, new reporting requirements came in to force on 1 September 2022 to notify HM Revenue & Customs of the existence of most types of trust. This is the Trust Registration Service and there will be fines and/or penalties imposed on trustees who don’t comply with the registration requirements. If you are a current trustee and want further information about this, get in touch.