Experts in Lifetime Trusts, based in Northamptonshire.
Such Trusts are set up and take effect whilst you are still alive – they are therefore outside your Will.
Several types of Trust are available for differing reasons, but in common with all Trusts, you are named as “the Settlor” and you will need to appoint fellow Trustees (a minimum of two Trustees is required to administer a Trust, but just one firm of solicitors or a firm recognised as a Trust Corporation). For taxation reasons, you need also to consider whether you as Settlor will benefit from the Trust or not. Likewise, consideration must be given as to the total value of assets placed within each lifetime trust and regard paid to creation of lifetime taxation issues.
You will also need to appoint beneficiaries of the Trust whether you wish them to have an absolute entitlement of simply an interest of some sort. There may also be specific conditions of limitation which you wish to impose.
In most Trusts, there is at least an element of discretion which must be given to the Trustees which is why it is critical that you trust those whom you appoint as your Trustees implicitly.
If you or anyone you know is looking for more help and guidance regarding lifetime trusts, then give us a call for a confidential, no pressure consultation. We are able to visit you in your own home at a time that is most convenient for you.
The Company currently services clients throughout the West Midlands, Warwickshire, Oxfordshire, Northamptonshire, Buckinghamshire, London and the Home Counties.