Trusts

A Trust exists when:-

  • You give assets in Law to people you choose (the Trustees) subject to a duty to hold for the benefit of others (the Beneficiaries)
  • You can set up a Trust in your lifetime or in your Will
  • However you set up your Trust , the Trustees have to manage the assets for the benefit of the Beneficiaries according to the terms of the Will or Trust Deed

 As well as advising on the details of settting up a Trust Fund we also provide a service supporting Trustees with the ongoing administration of Trusts:-

  • We provide a safe pair of hands to over 200 Trusts, several of which have assets in excess of £1 million, and to three substantial Almshouse charities
  • We assist trustees in setting up Trust Accounts and Trust Tax Returns

There are many types of Trust Funds designed for specific situations, but common types are:-

  • Bare Trusts - often used for Trustees to hold assets for a child until they reach adulthood
  • Life interest Trusts also known as Interest in Possession Trusts allowing a "Life Tenant" to receive income only whilst capital is preserved for others after the death of the life tenant.  If set up in a Will, these are referred to as Immediate Post Death Interest Trusts (IPDIs)
  • Discretionary Trusts - none of the beneficiaries has a fixed right to any particular share of the Trust Fund but the Trustees have discretion as to which Beneficiary benefits and to what extent. Discretionary trusts can be used to protect your Beneficiaries from unfortunate relationships, profilgate lifestyles etc.

Trustees:-

  • In a Lifetime Trust you can be a Trustee and control who is appointed a Trustee in the future
  • Trustees can only act according to the terms of the deed
  • You may choose Professional Trustees - and we provide this service
  • You should choose your Trustees carefully 

As long as you can be confident in your Trustees, setting up a trust fund offers opportunities to manage your family's future security in a tax efficient way, both during your lifetime and after your death.

Our team works closely with our independent financial services and investments advisors, and can also advise on Wills, ProbatePersonal Tax or on Inheritance Disputes

Please contact us to see if our Trusts Team can help you in settting up a trust fund.

Trusts

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Latest Trust News

Partner

Ian Copestake
Partner & Solicitor
Derby
01332 378 609
Personal Tax, Trusts, Wills and Probate
Richard Grosberg
Partner & Solicitor
Nottingham
0115 989 5219
Personal Tax, Trusts, Charities Group, Wills and Probate
Jane Sutherland
Partner & Solicitor
Leicester
0116 214 6676
Personal Tax, Trusts, Wills and Probate

Associates

Catherine McCannah
Associate & Solicitor
Nottingham
0115 851 1243
Trusts, Wills and Probate

Trust Manager

Craig Staten-Spencer
Trust Manager
Nottingham
0115 989 5251
Trusts, Personal Injury, Wills and Probate