You might not think you need to be concerned with trusts or that they are relevant to you. However, if you are worried about Inheritance tax, wish to provide for your young children or a disabled or vulnerable person, preserve your assets from care home fees, have complex family arrangements or wish to protect your share in a property then you might be.

There are many different types of trust which may be beneficial to your circumstances. The most common include:

Property Trusts

These are used to set out your respective shares in property, your rights and responsibilities with a view to avoiding future disagreements about ownership. They are suitable where a parent or adult child decide to buy or extend a property in which they both live or for unmarried couples wishing to protect their contributions to the purchase price.

Life Interest Trusts

Often used to provide for a person (for example your spouse or partner) for their lifetime and thereafter the assets pass to other beneficiaries (perhaps children or other relatives). These are popular with couples who have children from previous relationships.

Discretionary Trusts

Providing flexibility as to beneficiaries, when payments out are made and how much, they can also assist with mitigating inheritance tax and protecting assets from nursing or residential home fees. They are useful for individuals with complex family arrangements, including children who are divorcing or where it would not be appropriate for a beneficiary to receive large sums of money outright.

Disabled Person Trusts

Used to provide for vulnerable beneficiaries with specified mental and/or physical conditions. This type of trust can have advantageous tax treatment.

We can assist with:

  • Advice on the type of trust appropriate to your circumstances
  • Setting up the trust
  • Advising Trustees on their duties and responsibilities
  • Taxation of trusts – Capital Gains, Inheritance and Income tax and Trust Tax Returns
  • Changing Trustees
  • Administering the trust including, Minutes and Resolutions of Meetings, Investment Policy Statements and preparing Trust Accounts
  • Ending a Trust

So, why use Holmes & Hills Solicitors?

Trusts can be daunting and an administrative minefield, with onerous duties for the unwary trustee. It is important that you are guided through the process by professionals who are experts in this area of law. Our team of professionals have the knowledge and experience to advise you in all aspects of trust administration. 

You can meet with your specialist Trust lawyer at any one of our five offices across Essex and Suffolk. You will also be able to tailor the letters you receive from us to ensure you can read them clearly, including allowing you to dictate font size. A small detail, but important if your sight is impaired.

The first step to getting advice

Call us on 01206 593933 today to speak with one of our private client specialists.
Or send an email

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Your Trusts Team

Sue Carlile

Senior Solicitor

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