A trust is a way of managing assets (money, investments, land, or buildings) for people. There are different types of trusts and they can all be taxed differently. At Jackson Lees, our Wills, Trusts and Probate solicitors are experts in setting up and assisting with the administration of trusts.
Whether you are the settlor, the trustee, or the beneficiary, we will be able to extend our expert advice on the options you have with the administration of a trust.
We offer a free 30-minute, obligation-free consultation. Make an enquiry to book yours.
Trusts are set up for several reasons, including:
- to control and protect family assets
- when someone cannot handle their affairs (due to age, disability, incapacity, etc)
- to pass on assets while you’re still alive
- to pass on assets when you die (a ‘will trust’)
What types of trust are available?
Many different types of trust can be set up depending on your situation or how you want to control your assets, including:
- Bare trusts
- Interest in possession trusts
- Mixed trusts
- Discretionary trusts
- Will trusts
- Non-resident trusts
- Life interest trusts
- Personal injury trusts
To decide which trust is right for you, speak to a member of our team today.
What trust is right for me?
Understanding which trust is right for you depends on many factors, including:
- Your financial situation
- The situation of the trustee
- How you want your assets to be managed in the trust
- Who you want to maintain control of your trust
- The purpose of the trust
Establishing and maintaining a trust can be a very time-costly and complicated task. If you would like advice on which trust fund would be best for you, or if you need practical help with the administration of your Trust, call Jackson Lees solicitors today or fill in the enquiry form and our experienced team will be glad to assist you.
How do I set up a trust?
You don’t need any special qualifiers to apply for a trust. If you believe you would benefit from a trust, then contact our legal team today.
Setting up a trust is a very precise process that needs to be carefully worded and checked for any legal loopholes. To set up a trust, it's vital to employ the services of an expert.
If you would like to learn more about the benefits of setting up a trust, speak to a member of our team today.
What are the advantages of a trust?
There are many perks to using a trust over a will, but some of the most common reasons to choose a trust are:
- To support someone who can’t manage their money
- To provide for someone who is under 18
- To help provide managed funds to the mentally ill or those with poor money management
- To protect wealth
- To protect against potential divorce or bankruptcy
- To bypass inheritance tax - ensuring that your loved ones receive the maximum amount possible
- To split the benefits
Unlike with a will, you can specify and tailor who benefits from your assets at an in-depth level. For example, one beneficiary may be able to live in a property but if sold the money can go to a different beneficiary.
Jackson Lees can help
At Jackson Lees, we have an established legal team that specialises in matters of Wills, Trusts, and Probate, based in our offices across Liverpool and Wirral. Our legal experts have decades of experience and can assist in all matters. Call today on 0151 282 1700 to receive the best legal advice for you. Alternatively, you can make a quick enquiry below and a member of the team will be in touch to discuss your situation.