Trusts

If you are planning on giving your money, property or shares, to others, whilst ensuring that you, or others that you trust (hence the name), retain some control over what happens to those assets, a Trust can be a very useful document.

They represent a legal way of avoiding paying unnecessary Inheritance Tax.  Trusts can be set up for helping to solve long-term family or domestic situations, such as giving money to children or grandchildren, but at an age when they can be considered to be responsible.

You can create a trust while you are alive, usually by a formal trust deed. This is usually referred to as a “settlement”, or you can create a trust on your death in your Will (a “Will Trust”). Whichever method is used, the document will set out what is being given away, who is going to look after it (the “trustees” – who can include yourself in lifetime trusts), who is to benefit from the gift (the “beneficiaries”), and any rules that the trustees must follow when looking after the assets – for example what they can and cannot invest in; how the capital and income can be spent; and how long the trust is to last.

As Trusts can be very complex, seeking the advice of one of our Trust specialists will give you peace of mind that your intentions are accurately represented.


Our services to you:

Trust Deeds  
Will Trusts  
Inheritance tax planning  

Contact a Member of the Private Client Team

Scott Richards

Scott Richards Solicitors
Newfoundland House
4 Regent St 
Teignmouth TQ14 8SL

law@scottrichards.co.uk

01626 772441

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