Trusts can be set up during a person’s lifetime as a means of estate planning, or upon death through a person’s Will. Trusts are a complex area of law but in simple terms assets are placed into a trust and are managed by trustees for the benefit of named beneficiaries. The choice of trustees and beneficiaries is made by the person creating the Trust. Whilst the concept of a Trust is generally straightforward, often the circumstances surrounding the creation of the Trust are more complicated, and it is these circumstances that influence what type of Trust is most appropriate. Types of Trust include Discretionary Trusts and Life Interest Trusts.
At Landons we are able to advise on the merits or otherwise of creating a Trust including taxation advice, preparation of the relevant Trust documentation, and advise on the ongoing Trust administration as and when the need arises.
For more information please contact Jessie Stewart | [email protected] | Tel: 01277 210021