Our trust lawyers pride themselves on offering clear advice from the creation of a new trust to the winding up of a trust.
Trusts can be used to ensure that your assets can be paid to or for the benefit the people you intend, can often be tax efficient and can be set up during your lifetime or within your Will.
We administer a significant portfolio of discretionary and life interest trusts holding a variety of assets including:
- share portfolios
We can also offer reviews of existing trust arrangements to provide bespoke advice and can draft trust documentation such as deeds appointing or retiring a trustee.
We act for individual trustees as well as being able to provide experienced professional trustee appointments.
We also work closely with our specialist property lawyers to provide advice on acquiring property as a trust asset, holding property on trust and transferring property out of trust. This includes advice on owning property as tenants in common and property succession.
What do Trustees have to do?
The involvement required of a trustee will vary depending on the type of trust. Trustees must act within the powers and responsibilities set out in deed setting up the trust, legislation including the Trustee Act 1925 and in accordance with their fiduciary duties. Generally speaking, trustees must act in good faith and in the best interests of the beneficiaries (and if more than one balance these interests).