Trusts are a peculiarly English-law concept by which a donor, or "settlor", can place cash and other assets into a structure distinct from his/her legal ownership but over which he/she can continue to exercise a measure of control. Trusts are sometimes used to achieve protection from creditors but are more regularly associated with passing wealth, such as important country houses, from generation to generation whilst minimising the inheritance tax which would fall due had the asset remained in the outright ownership of the settlor. Trusts have played an important part in preventing the break up of many of the country estates and noble country houses which characterise rural England.
Similarly, trusts can be used to help those in more ordinary circumstances who wish to provide for young children or grandchildren or family members who may have long term care requirements.
We have an experienced team of lawyers that can advise you on whether or not a trust is appropriate in your situation. If so, then we can recommend what type of trust might be suitable and guide you through the process of creating a lifetime settlement or write a trust into your Will. We can assist you with the ongoing administration of a trust, advise on the tax implications and can if you wish act as a trustee.