When a Trust is established, the legal ownership of your assets is transferred to Trustees who hold the assets of the Trust for the benefit of certain beneficiaries that you wish to provide for.
There are a number of possible advantages to you in having your assets owned by a Trust and managed by Trustees, the advantages may include:
- Creditor protection;
- Possible tax advantages;
- Protection against possible property relationship claims;
- Protection against creditor claims with children;
- Protection of capital for irresponsible children or grandchildren;
- Flexibility to cater for different beneficiaries; needs at different times;
- Protection against future means tests, capital gains taxes or wealth taxes;
- Ease of administration of the deceased's estate, because of disposal of assets to the Trust.
If you are considering establishing a Trust we are happy to meet with you to discuss how a Trust may work for you. We can create Trust structures that will meet your personal and commercial circumstances.
To help ensure that your Trust is managed properly, we also offer an independent Trustee service.