Trusts and Lifetime Settlements

Trusts come in a number of forms. We are experienced in drafting bespoke documents to meet your requirement and wishes.

A trust may be set up for a number of reasons :
  • To provide flexibility as to when and how beneficiaries receive capital and sometimes income
  • To retain an element of control over assets
  • To protect or ring-fence assets in a variety of situations
  • To hold funds for disabled or vulnerable persons or children (including young  and not so young adults)
  • To hold business property in the context of succession to the business
  • To ensure that life policy proceeds will not be subject to inheritance tax
  • Other tax planning purposes

Please note however that there are  a number of things you need to consider when setting up a trust not least:

  • Who will be the trustees?
  • What are the implications to you from a tax point of view of setting up a trust?
  • What are the tax implications for the trust itself once it is established?
  • Certain trusts now need to be registered with HMRC upon creation – does your trust?

During the lifetime of the trust it might be necessary for trustees to retire, be removed and replacements appointed. We can advise on the correct process for doing this and, indeed, advise trustees of their duties and obligations under the terms of the trust and general law

Contact us

For further information on trusts & lifetime settlements call Edward Pennington or Heather Cutler at rhw Solicitors in Guildford on 01483 302000 or email wills@rhw.co.uk

Meet the Wills & Lifetime Planning Team

Edward Pennington

Associate Solicitor
01483 302 000

Heather Cutler

Associate Solicitor
01483 540 545

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