Setting Up a Trust
We can advise you about creating a trust during your lifetime, or about a trust that you want to arise on your death, which may form part of your Will. There are many different types of trusts with different legal and tax implications, so individual advice is essential. Trusts are usually used to safeguard and support individuals, protect assets and sometimes to save tax. They tend to become complicated, problematic and expensive when they involve someone who doesn’t know what they are doing.
Acting as a Trustee
Although many people feel flattered when they are asked to be a trustee, it is usually an onerous and unpaid task that carries significant responsibility and personal libilities. We help and advise trustees in relation to their role and we act as professional trustees for a number of long running family trusts. We are often called upon to help when a trust situation has become misunderstood, complicated or neglected, but we are also glad when we help people before things reach this stage.