Trusts

Trusts solicitors

A trust is a legal mechanism used to manage property, monies and investments. It can be created both in lifetime, or on death (via a will trust).

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Call us now for trusts support

Slater and Gordon have experts in trusts ready to help you. Contact us online today or call us on freephone 0161 830 9632 to speak to one of our friendly advisors.

Wills, trusts, tax and probate solicitors

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Trusts

How can Slater and Gordon help you?

Our specialist team of wills, trusts, tax and probate solicitors are experienced in all aspects of trusts and can explain the benefits of placing your estate into a trust.

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Why might you need a trust?

Trusts are created for various reasons, some examples of which are set out below :

  • to control, protect and preserve family assets for future generations
  • as part of a tax planning exercise, to mitigate Inheritance Tax
  • when someone is too young to handle their affairs
  • when someone cannot handle their affairs because they are incapacitated
  • when someone receives compensation due to a personal injury claim
  • to pass on assets while you are still alive
  • to pass on assets when you die (a 'will trust')
  • under the rules of inheritance if someone dies without a will (in England and Wales)

If you want to set up a trust or want more information on this topic, our expert solicitors are here to assist you with your questions. Call us now on freephone 0161 830 9632.

Trusts explained

Trusts may seem complicated but can be extremely useful. Prior to creating a Trust, you should seek professional advice as it may be that the type of Trust you believe you require is not the most efficient for your personal circumstances. Several of our solicitors are STEP qualified and as such, have additional expertise in this area.

In considering a trust, we can advise on the role of the Trustee, and the matters to consider when selecting Trustees, how a Trust is administered and what the tax implications will be.

How do I set up a trust?

There are various types of trusts, including:

Deciding which trust is the right one for you and setting it up can be quite complex. We can help you to keep it simple and make sure your interests are represented.

Why should I consider legal assistance when setting up a trust?

We strongly advise working with an expert solicitor when setting up a trust. They can help you with the following:

  • Which type of trust is best for you?
  • Which conditions should you include?
  • If you can save taxes with your trust?
  • Ensuring your trust does not conflict with your will.

If we can assist you with your questions, feel free to contact us.

What if a trust and a will are conflicted?

Contradictory instructions will cause confusion. As well as reviewing your Will every 5 years or so in case of changes in personal circumstances or changes in tax legislation, we would suggest that in considering a Trust, your Will is reviewed at the same time as it may be you believe you require a lifetime Trust whereby your circumstances may be better served by a Will Trust.

If you have a trust and a will, we advise you to have both documents checked by a solicitor to ensure they are not contradictory.

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