A trust is commonly used as a way of allocating your assets for the benefit of beneficiaries. Trusts differ from a straightforward gift, as beneficiaries receiving gifts made in trust do not have complete control over the asset given.
Many people use a trust in conjunction with a Will, to pass on their assets in a manner they feel is appropriate to a particular beneficiary. Trusts can be created during your lifetime or on your death. Trusts are designed for a variety of purposes and reasons. They can be used when a person is too young or is unable perhaps due to a lack of mental capacity, to manage their own affairs or to be able to pass on money or property whilst alive. There are a number of trust options available including straightforward Bare Trusts, Interest in Possession Trusts, Discretionary Trusts, Accumulation and Maintenance Trusts and Settlor Interested Trusts.
Kash Tutter can assist with the technical legal advice to:
- Those wishing to set up a Trust (Settlors)
- Those whose responsibilities it is to manage a Trust (Trustees) and
- Those entitled to benefit from a Trust (Beneficiaries)
Should you become involved in a dispute with an existing trust you may require legal advice to resolve these issues.
Common examples of this type of dispute involve:
- Disagreement between Executors or Trustees
- Valuations of assets
- Beneficiary entitlement
- Breach of Trust
- Recovery of Estate or Trust assets
Should you wish to discuss any of the above issues please contact us on 01332 272727 or contact us online.