Trust Administration Services
Our Trust administration solicitors can help you with your duties as a trustee or help you look after your trust correctly.
Trusts
Our trust solicitors can help you protect and manage your assets now and for the future.
Finding the right advice
See how our trust solicitors can help protect and manage your assets.Speak to our experts
We have the largest private client team in the UK; our team of experts are here to provide discreet legal advice to support you and your family.
What is a trust?
A trust is a legal arrangement that manages money or assets for the benefit of specific people. When you set up a trust, you decide who will oversee the trust (the trustees) and who will benefit from it (the beneficiaries).
Assets can still generate income once they have been placed in a trust. Properties can still charge rent, shares still collect dividends, and money can still generate interest. This income can either stay in the trust or be paid to beneficiaries. Assets may increase or decrease in value while in a trust – it is the trustees’ responsibility to manage this in the beneficiaries’ best interest.
Trusts do sometimes have to pay tax. However, it can be more tax-efficient to put assets in a trust and receive income as a beneficiary than it is to receive the income directly.
What are the benefits of a trust?
Trusts provide an extra layer of certainty in a variety of circumstances, especially where significant wealth is involved. They can help you:
- Provide for vulnerable loved ones
- Reduce inheritance tax payments
- Manage personal injury compensation
- Safely pass on assets to the next generation
- Protect assets from creditors or divorcing partners
- Fund education for your children and/or grandchildren
- Provide for children and partners from different relationships.
What’s the process of setting up a trust?
To set up a trust, you need to create a ‘declaration of trust’ that states:
- Who will benefit from the trust
- Who will be appointed as trustees
- Which assets will be put into the trust
- How you want the assets to be managed
- How you want benefits to be distributed.
You can do this by yourself, but trust law is complicated. Your declaration must be very carefully written to protect your assets as you intend, and prevent people making claims based on unclear wording.
Frequently Asked Questions
Specialist Legal Advice
Our experts are here to provide discreet legal support for you and your family. Please complete our enquiry form and one of our experts will contact you by the next working day.
Alternatively, you can call us now.
Our opening hours are Monday to Friday 8am to 6pm (Excluding Public Holidays).
0330 1233 882
Our commitment to you
Our experts always start by listening, so we understand what matters most from day one.- 01Clear legal guidance
You will always get straightforward, honest advice, with regular updates to keep you clear on the way forward.
- 02Specialist knowledge
A wide-ranging team of trusted specialists who understand what it takes to protect your future, your family or your business.
- 03Your needs first
Whether you’re navigating complex personal situations or business decisions, we take the time to understand your world and what’s at stake.
Our locations
Work with a full-service firm with solicitors in 21 UK locations, giving you national expertise with local support.
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