A Trust is an arrangement which allows you to pass assets to someone else, without losing complete control. When used appropriately, Trusts are particularly beneficial with estate and succession planning. Though notoriously complex, our trust planning experts will discuss the options available to you, in a way that’s easy to understand.

Trust & Estate Planning

 

The 3 parties of a Trust are:

The Settlor

The Settlor is the creator of a trust. They provide the assets that will be held within the trust and select the beneficiaries they wish to benefit from those assets in the future.

The Trustee

The Trustees are those whom the assets are entrusted to. They are responsible for the management and distribution of the assets in-line with the trust deed. A trustee must be at least 18 years old, of sound mind and not bankrupt. A company can also be appointed as a trustee.

The Beneficiary

Beneficiaries are those that benefit from the assets placed within the trust. Depending on the type of trust, beneficiaries can be absolute (fixed) or discretionary (flexible).

What can a Trust do for you?

Trust & Estate Planning

Tax Mitigation

1 Tax Mitigation

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Avoiding Probate

2 Avoiding Probate

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Once assets are placed into trust, they no longer belong to the settlor therefore a grant of ...

Managing your Assets

3 Managing your Assets

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Certain types of trust can provide flexibility when it comes to distributing assets alongside ...

Protecting your assets

4 Protecting your assets

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As the use of a trust passes ownership of the assets to trustees, the assets are protected ...

Provide Flexibility

5 Provide Flexibility

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Certain trusts allow a settlor to place assets in trust for beneficiaries, but still continue to ...

Types of Trust

Types of Trust

Absolute/Bare Trust

Beneficiaries are named at outset and cannot be changed. When beneficiaries reach the age of majority (18 in the UK), they can demand their benefits under the trust.

Settlor Included Discretionary Trust

Beneficiaries can be added at any point (including the settlor) and the trustees will use their discretion on who can benefit from the trust and when. Benefits cannot be demanded by beneficiaries as there is no absolute right.

Settlor Excluded Discretionary Trust

Beneficiaries can be added at any point (excluding the settlor) and the trustees will use their discretion on who can benefit from the trust and when. Benefits cannot be demanded by beneficiaries as there is no absolute right.

Discounted Gift Trust

The trust is created by means of a gift, but the settlor retains the right to capital payments from the trust. The ‘discount’ is determined by the actuarial value of the withdrawals and reduces the value that is transferred into trust.

Loan Trust

The trust is created as a loan to the trustees for investment, rather than giving the assets away. The loan is repayable on demand and can be paid periodically or as a single lumpsum.

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