Trusts

A trust is a legal arrangement where by persons (known as 'trustees') hold property on specific terms (known as the ‘trust’ or ‘settlement’) for the benefit of others (the ‘beneficiaries’). Often trusts are used for tax planning reasons, or to provide solutions to family and property ownership issues. But they can also be used to protect assets, as far as possible, against divorce, bankruptcy or creditors, or to manage assets on behalf of individuals who are not able to manage their own financial affairs, for example a child who is under 18.

There are many different types of trust available. We can advise on which kind is suitable for your particular circumstances. This includes life interest trusts, which can be used, for example, to provide an income for a spouse on their partner’s death, while also protecting the capital to later pass onto their children. As well as drafting trusts, we can advise on their use as part of tax and estate planning, and also assist in trust management.