Trusts can be a very effective way of minimising your inheritance tax liability, as well as managing and preserving your wealth, now and in the future. Our specialist lawyers provide solutions tailored to each client’s needs. We deliver expert advice for UK domiciled, as well as non-domiciled individuals and families.
Trusts can be used in many ways for many reasons to include:
- Succession planning and IHT planning
- To shield compensation awards from means tested benefits
- Care fee planning
- Protecting assets for children from previous marriages; or
- Spousal bypass trusts for pensions
However, when setting up a trust you will need to appoint:
- Trustees – the person/company who administers the trust
- Beneficiaries – the person/people who benefits from the trust
We have extensive experience handling all kinds of issues surrounding trusts, including:
- Setting up a trust
- Advising on the tax and practical implications
- Sending the necessary information to the HMRC
- Preparing annual trust accounts and tax returns
- Working with other professionals such as Investment Advisors and Accountants
- Advice on running a trust efficiently
- Winding up of trusts
We can also act as a trustee if a client wishes to appoint a neutral professional trustee.
Our specialist team of trust lawyers have extensive experience relating to all types of trust matters. Our team also includes the previous head of Private Client Estate Planning at PricewaterhouseCoopers Legal. Therefore, we really understand how to tailor you trust efficiently whilst meeting your particular needs.