Whether you plan to set up a Trust or have become a Trustee, you have responsibilities that require exceptionally careful consideration.
Partner - Private Client Services
Whatever your needs, McMillan Williams can advise you on how a Trust works and the tax implications of setting one up. We can also review an existing Trust and give you a clear understanding of your legal duties and responsibilities.
You can talk to us in the strictest confidence and we will work with you to achieve the best results.
What is a Trust?
A Trust can be used to pass on your assets in the way you want. Trusts can be set up in your lifetime or can be included in your Will. Different types of Trusts are used depending on what you want to do and the circumstances. Trusts can be used for a variety of reasons some of which include:
- to hold assets for beneficiaries who are under 18 until they reach a particular age
- for a disabled beneficiary
- to provide for a second spouse whilst protecting capital for children
- to protect for a child who is financially irresponsible or getting divorced
- mitigation of care fees
- to hold the proceeds of a personal injury award
- for tax reasons
If you propose to purchase a property we can also prepare Declarations of Trust which involve negotiating the terms of the parties’ shares and resolving any possible disputes that may arise where different parties have contributed to the purchase.
We Can Help
Setting up a Trust is complicated and McMillan Williams can provide the expert advice that you need. We are able to provide our services as Professional Trustees for your Trusts if required to administer them on your behalf. Also, we are able to help with recommending financial advice for the investments within the Trust.
Whether you are buying a property and wish to protect the money invested, or you wish to protect some assets for your family, our specialist team can help you in every element to do with Trust Law. Call us today on 0203 551 8500 or use our Contact Us to arrange a callback.