Trusts can be used to help you manage and protect your wealth, both now and in the future. They can also be utilised to ensure that assets you wish to pass on to young or vulnerable loved ones will be managed in a manner that gives you peace of mind. Whatever your reason for setting up a trust, having the support and guidance of an experienced team of solicitors can prove invaluable.
The trusts solicitors at Scott-Moncrieff can provide proactive, professional advice on all matters concerning the setting up and management of trusts. We have many years of experience acting as the primary advisor for clients, as well as alongside other professionals, so that your financial objectives are pursued effectively.
Our trusts lawyers are friendly and approachable – we are always on hand to discuss your business with us in detail and to answer any questions you may have. For clear, straightforward, affordable guidance on setting up and running a trust, contact a member of our team today on 020 3972 9011 or complete our online contact form.
Experienced Trusts Lawyers in London and Nottingham
A trust can be used to hold money, investments, property or other assets. It represents a legal arrangement whereby one or more people, or in some cases a company, control your assets under the agreement that these assets are used for the benefit of a specified person or group of people. The people in charge of the trust are called trustees; those who benefit from the trust are called beneficiaries.
Why might I wish to set up a trust?
Trusts can be used to handle assets that might otherwise be held by people who would struggle to manage them properly. In some cases, there may be tax benefits to putting assets in a trust.
Trusts are often used in estate planning when the person making a Will wishes to leave assets to young or vulnerable family members. If you plan to leave a substantial sum of money to a grandchild, a trust could be used to hold this money until they are old enough to manage it themselves. Trustees can be instructed to withdraw sums for the benefit of the child in the intervening years, for example, to pay for school fees.
If you care for a vulnerable family member and want to ensure that they are well cared for after you die, a trust can be used for this purpose. You might be worried about how a child or sibling with a mental health condition or learning disability would manage if they were to inherit a large sum in your Will – by setting up a trust, your appointed trustees will oversee this.
Trusts can also be used to help you manage your own money in the future if you are unable to do so yourself.
Contact our Wills Lawyers in London
Our highly trained and experienced lawyers have a comprehensive understanding of all aspects of trust and tax law. This, combined with our expertise in all matters concerning Wills and estate planning mean that Scott-Moncrieff is the perfect choice for advice on the setting up and managing of trust, whatever your reasons for doing so.