Clear, practical advice on the full variety of Trusts.
We regularly advise clients on including trusts in their Wills or on setting up Trusts during their lifetime. Clients decide to use trusts for a variety of reasons depending on their personal circumstances.
The most common purposes of using trusts are for tax planning and for asset protection.
Trusts are a complicated area and we appreciate that many clients will not necessarily appreciate what a trust is and how it works. Our expert Trust Solicitors provide clear advice to clients who would benefit from the use of Trusts so that they go away understanding why they are creating a Trust and how the Trust will work in practice.
In addition we will also advise clients on the tax implications applicable to their specific type of Trust. This includes advice on inheritance tax, income tax and capital gains tax where applicable.
We regularly advise on the following types of trusts:
- Will Trusts
- Lifetime Trusts for children and grandchildren
- Former Accumulation and Maintenance Trusts
- Discretionary Trusts
- Interest in possession Trusts
- Relevant property Trusts
- Disability Trusts
- Compensation settlement Trusts
- Charitable Trusts
- Employee Benefit Trusts (EBT)
Our experienced team of Trust Solicitors can assist clients with the following:
- Advising on the use of trusts generally and how they may benefit from creating a trust in the Will or during their lifetime
- Leaving assets to a discretionary trust as part of a tax planning exercise to take full advantage of any available inheritance tax reliefs
- Using trusts to protect assets for children
- Creating trusts to protect assets from care home fees
- Using trusts to look after the welfare of a partner or spouse during their lifetime at the same time as protecting assets for children or other beneficiaries
Why Choose Myerson Wills Solicitors:
- Bespoke Legal Advice
- The Society of Trust and Estate Practitioners (STEP) Qualified Solicitors
- Home Visits Available
- Friendly & Personal Service
- No Hidden Fees
Examples of recent trust work:
- Managing the ongoing administration of a discretionary trust and dealing with the income tax and inheritance tax reporting obligations.
- Drafting nil rate band discretionary trusts in Wills to protect assets from care home fees.
- Advising a couple who had both been previously widowed on the use of trusts for tax planning purposes. This involved drafting discretionary trusts into the Wills to make use of four nil rate band thresholds.
- Drafting a life interest trust providing that the surviving spouse could reside in the property for her lifetime but leaving the equity in the property to children upon the surviving spouse’s death.
- Advising trustees on their responsibilities, powers and obligations in their role as trustees.
How We Can Help
A member of our specialist team will be happy to help.
To discuss Trusts issues, please either use the contact form on the right, email us at email@example.com or call us today on +44(0)161 941 4000 to speak to a member of our team.