A trust is a legal arrangement put in place to protect assets and wealth. It involves a nominated ‘trustee’ managing assets for the benefit of another person or group of people known as the beneficiaries.
Advising on all aspects of setting up and managing a trust, as well as resolving any disputes that may arise during its lifetime.
Trusts are set up to hold and protect assets and wealth. They can be used for different reasons – whether to hold assets for a child until they are older, to manage the passing on of assets at death, for tax planning reasons or to help manage the affairs of someone who is incapacitated.
We can support on all the legal and administrative issues involved in setting up and managing a trust. From helping to choose the right type of trust and advising on the associated and often complex tax issues; to registration, trust administration and the resolution of any disputes that may arise.
Whether you are the person looking to set up the trust (the settlor), the trustee or the beneficiary – we are experienced in all aspects of setting up a trust and ensuring it is run in accordance with the law and the trust’s objectives, with all parties aware of their rights and duties.
A trust is a legal arrangement put in place to protect assets and wealth. It involves a nominated ‘trustee’ managing assets for the benefit of another person or group of people known as the beneficiaries.
The reason to set up a trust can vary from needing to protect assets for a child until they are older to managing how assets will be passed on as part of inheritance planning.
The settlor is the person whose monies or assets were placed into the trust, the trustee is the person who manages the assets held in the trust and distributes them to the beneficiaries according to the trust terms – the beneficiary or beneficiaries are therefore the people who will ultimately benefit from or inherit the assets held in the trust.
Michael Alden
Partner and Head of Private Wealth Division
+44 (0)1392 334041 m.alden@ashfords.co.uk View more
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