Trusts
Trusts are a useful way to pass on wealth to your beneficiaries. The assets within the Trust are looked after by trustees, who make sure they are invested in the right place with the right advice, and make decisions about transferring capital and income to the various beneficiaries.
Trusts may be set up for:
- Estate planning purposes
- when the beneficiary is too young to inherit or too infirm to manage the assets themselves
- to ensure children from a previous marriage benefit as well as your current partner
- transferring the family business to the right people
As Trusts are very flexible, they can enable decisions to be made at the time of your death, rather than under different circumstances years earlier.
Trusts can be terminated immediately, with the money passing directly to the beneficiaries (but generally not back to the person setting it up), or can continue for as long as necessary. In all circumstances, the beneficiaries cannot force the Trust to end; that is purely within the discretion of the trustees.
For more information on any of these services, please contact us.
