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THE LEGAL EXPERTS FOR YOU AND YOUR BUSINESS

Supporting you to protect the future of your loved ones

TRUSTS

GUIDES & RESOURCES

When you write your will, it’s possible to leave money or other assets such as property in a trust which is managed on behalf of a beneficiary. This can be a good way to protect the future benefit to a vulnerable beneficiary who may not be able to handle the responsibility of their inheritance.

You can choose from a number of different forms of trusts and our specialist team can help you decide which would be best for you and your family or other beneficiaries.

One option is a discretionary trust, where you appoint trustees who are given a list of potential beneficiaries. It is then up to the trustees to decide who actually receives any income or any capital from the trust at any given time. This is a very effective tool for making provision for family members in a flexible way and is also tax efficient.

Our approach

We will take time to discuss your wishes with you and decide on what type of trust is the best way forward. We will explain all the implications for any surviving spouse and will outline the responsibilities of the trustees.

If you choose a discretionary trust, you can elect to ‘lend’ the trust fund to your surviving spouse.  In this case, we can draft a letter of intention for the trustees indicating that the intention of the discretionary trust is that the surviving spouse will be looked after, first and foremost.

To speak with one of our specialist wills, probate & trust solicitors, please call 0116 254 8871 or alternatively you can click the contact us button and email your enquiry using the contact form.