Q. What is a Trust?
A. It is a legal binding relationship between the settlor (person creating the trust) who transfers property to a group of people (the trustees) who hold the assets on trust for a defined group (the beneficiaries).

Q. How do I create a Trust?
A. You can create a trust during your lifetime by passing assets into a trust which has been created by a trust deed, or you can create a trust in your Will, which only comes into effect when you die.

Q. Do I need a Trust?
A. Trusts can be useful for a variety of reasons:
Providing for family members incapable of managing own affairs;
Providing for surviving spouse during their lifetime whilst preserving capital for children of the marriage in the long term;
Reducing exposure to inheritance tax;
Trusts of life insurance policies or pension plans;

Q. How much does it cost to create a Trust?
A. Our charges are based on the amount of time spent dealing with the matter. However before any trusts are created it is important that we have discussed your personal needs before we can advise on the best structure.

Q. Who should be a Trustee?
A. The role of trustee is a responsible role, it entails ensuring the trust is run correctly, making decisions over investments.

If you would like to speak to a solicitor regarding Trusts, please send us a message using our enquiry form >>>