We can set up all types of trust and we advise on the use of trusts during your lifetime and after your death. These can cover a variety of situations from provision for your children or grandchildren to charitable trusts. We can also discuss existing trusts and the tax consequences for the future.
We offer a full trust management service whether we act as trustees or as advisors to the trustees. This includes the preparation of annual capital and income accounts, tax returns and management with the appointed financial advisor or stockbroker of the trust portfolio. We can advise on possible distributions from the trust and variations of its terms, including the tax consequences of such actions.
These can be set up during lifetime or on death. The most common use of the discretionary trust until the pre-budget changes in 2007 was to save inheritance tax. However, it is also used to protect money/assets in cases of a minor or someone who is disabled or vulnerable in society. We have very wide experience in advising parents of disabled children and dealing with the affairs of those who lack mental capacity.