Using the law of trusts to advantage

Legal Trusts occur in many situations. In essence the concept is of one person being the legal owner of the item, whether it be premises or money, but under a binding obligation to use it for the benefit of someone else. Trusts exist in many situations; for example, when a parent opens a savings account for an infant and operates it for the child's benefit or where Executors of a Will have to adminster the estate and apply its funds in the payment of legacies.

We can advise on specific trusts to take advantage of tax concessions or to protect assets from being frittered away. Trusts can be used to provide a more comfortable lifestyle for disabled persons without reducing their state benefits, or to purchase land for children or grandchildren when they become 18 years of age.

If you are a beneficiary of a trust, what rights do you have to select the trustees or to bring the trust to an end ? What are the tax consequences of ending a trust ? What investments are trustees allowed to choose ? How should a trust be managed ?

We can advise on these and many other aspects of trust law.

Tel 0118 957 3425 Fax 0118 959 7302