Trusts
At Kew Law our solicitors can assist in establishing trusts and with the ongoing administration of trusts.
If you require assistance with setting up a trust; with administering a trust or advice in relation to disputes surrounding trusts, contact us here or call 0800 987 8156
What is a trust?
A trust is a legal arrangement whereby a person (‘the Settlor’) gives assets to other people known as the “Trustees”. The Trustees are made legally responsible for the assets although they are not always beneficially entitled to those assets. The assets are held for the benefit of others (the “Beneficiaries”). You can set up a trust in your lifetime or in your Will. In either case the Trustees then have to manage the assets on behalf of the Beneficiaries according to the terms of the Will or trust deed.
Trusts can be useful for a variety of purposes:-
- For estate planning purposes
- When a beneficiary is too young to inherit
- What a beneficiary is infirm and unable to manage the assets themselves.
There are several different types of trust that can be created. Some further information regarding four of the most common types of trusts are set out below:-
- Bare Trusts (also called a ‘simple trust’)
- Life Interest Trusts (also called an Interest in Possession Trust)
- Discretionary Trusts
- Charitable Trusts
Contact us or call 0800 987 8156 to book an initial consultation with a Solicitor
Solicitors in Braintree, Witham, Maldon, Colchester, Wickford, Burnham-on-Crouch and Chelmsford
