A trust is a legal arrangement in which an individual (the settlor) gives legal control of property to a person (the Trustee), to hold the property for the benefit of specific beneficiaries. A trust can hold assets – such as land, money, shares or even antiques – for the benefit of one or more ‘beneficiaries’.

Trustees are the legal owners of trusts. Trustees act in accordance with the terms of the trust. These are set out by the person who has put assets into the trust. This person is known as the ‘settlor’

Why have a Trust?

Trusts may be set up for a number of reasons, for example:

  • to control and protect family assets
  • when someone is too young to handle their affairs
  • when someone can’t handle their affairs because they are incapacitated
  • to pass on money or property while you are still alive
  • to pass on money or assets when you die under the terms of your will – known as a ‘will trust’
  • under the rules of inheritance that apply when someone dies without leaving a valid will (England and Wales only)

There are several types of UK family trusts and each type of trust may be taxed differently.

There are other types of ‘non-family’ trusts. These are set up for many reasons. For example, to operate as a charity, or to provide a means for employers to create a pension scheme for their staff.

A trust, if appropriate, can reduce the value of your estate now and therefore at your death. The impact is to reduce the requirement to pay IHT on your estate.

Get in touch

If you would like to know more about how our tailored services can best suit your needs, do not hesitate to get in touch. Although based in Greater Manchester, we can provide high-quality legal assistance to those who need it around the UK. Call us today on 01706 624 029, or fill in the online contact form.

Testimonials

Read All >

Michaela went out of her way to make time to see me, gave very good advice and answered any questions I had. Always returned my phone calls and emails promptly. Thank you

Mrs K

Wonderful service provided by Helen Green – very thorough knowledge. I am extremely satisfied as I was helped through a difficult time when I was uncertain how to go forward.

Mrs C

Hassle free service, just give them the facts they require – let them get on with it – Simples

Mr C

Malcolm, I really appreciate what you have done and can’t thank you enough with how you have dealt with this! We’ll fill in the attached customer satisfaction form and reflect how impressed and pleased we are.

Mr P

Very happy to have come here, especially dealing with Helen Green

Mrs L

Thanks for the work of your staff led by Maria. I would like to highlight the contribution of Nadya & Leona in these transactions. While Maria is often the one in the sunshine so to speak, it is through the background work performed by these two that allows this to happen.

Mr S

I have been completely satisfied with help given by Helen and feel that my affairs are now in safe hands.

Mr G

I would like to thank Charlotte for being so friendly and helpful.

Mrs A

Everything was great Michaela. Thanks!

Mr P

I would like to praise Adam Cohen with the way he has looked after both me and my wife. He has been very thorough and helpful with us.

Mr & Mrs C

A very professional and friendly service from Helen using clear plain English that is easily understood.

Mr B

Excellent, friendly service from Helen Green. Very happy with the outcome.

Mr O

Contact Us