Trust creation & administration
Creation
A trust is any arrangement by which someone, called “a trustee”, holds assets on behalf of another, called “a beneficiary”. You might think that trusts are only for those that live in stately homes, but think again. You might want to save tax. In your Will you want to leave assets to children that are not yet old enough to manage their own affairs. You might buy a buy-to-let jointly with a friend. You might want to pass some of the value in your business to your children, but retain control. Trusts can help all of us in these situations.
Partners Michael Batt, Suzanne Alston and Jonathan Mathers can help you decide whether you need a trust, advise what is involved in setting one up, advise how to deal with HM Revenue & Customs and importantly advise on the costs of setting up a trust and running it in the long term. Trusts can be relatively simple, but they must always be well drafted, and clear.
Michael, Suzanne and Jonathan also advise Trustees on their responsibilities as trusts go along, making sure that you get the support and advice you need to continue to do things properly. They have helped and supported generations of families through turbulent and calm times by just being there to help when needed, as well as stepping in and taking the initiative if that is what Trustees want.
Click onto page 2 for Trust administration.
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Further Information |
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