Trust Solicitors

Trust Solicitors

Trusts can be a very effective way of protecting your assets, as well as allowing you to make sure your loved ones’ needs would be met if you were no longer around. Trust law can be complicated, however, so whether you are setting up a trust or acting as a trustee, it is essential to take specialist legal advice.

Our highly experienced trust solicitors will listen to your requirements and any specific concerns, then advise you on the best type of trust for your goals. We can then guide you through every stage of setting up and managing your trust, including where you need to create the trust immediately or need to include provision for a trust in your Will.

We also regularly advise trustees on the management of trusts as well as acting as professional trustees where you would prefer to have the reassurance of having a legally trained expert being in charge of the trust.

With a broad range of skills and expertise across our team, we support a wide variety of clients with their trusts, including those holding high value and complex assets in excess of £1 million.

Whatever your requirements, we can provide clear guidance and tailored service you need to effectively deal all with everything involved in setting up and managing a trust.

Book a consultation with our trust solicitors in London & the South East

To discuss your requirements and arrange an appointment with our trust solicitors, you can contact our local offices in Uxbridge, Beaconsfield and Reading or use our short contact form and we will respond swiftly.

Why IBB Solicitors are the right choice for trust advice

The Wills, Trusts and Probate team is headed by Partner Jacqueline Almond who is highly experienced in advising clients from a range of backgrounds, including High Net Worth Individuals with complex assets.

We are members of the Law Society’s Wills & Inheritance Quality Scheme, recognising the strength of our practice in this challenging area of law.

Our team includes members of the Law Society’s Private Client Section, The Society of Trusts and Estate Practitioners and Solicitors for the Elderly, reflecting the strength of our legal expertise and commitment to providing the very best service to our clients

How we can help you with trusts and lifetime planning

We can assist you with setting up a trust, either during your lifetime or as a provision of your Will. Our team will talk through what you need to achieve and make sure the trust deed reflects this, ensuring that all of the right details are taken care of, minimising the potential for future problems and disputes. We can also advise you on who to name as trustees, so you can be confident the trust will be managed effectively.

If you are a trustee, we can advise you on carrying out your duties and dealing with any problems. By giving you clear, practical guidance, we can help you to discharge your role effectively and save the interests of the beneficiary.

Members of our Wills, Trusts & Probate team regularly act as professional trustees for a wide range of clients. We can take the lead on managing a trust if you would prefer to have qualified legal experts handle this demanding role or we can act in a supporting capacity, providing the benefits of our expertise and training to other trustees.

Where there is a dispute over the terms of a trust deed or the way a trust is being managed, our litigation team can advise and represent you. In most cases, we are able to resolve these types of disputes amicably through negotiation, mediation and other alternative dispute resolution methods.

Types of trusts

There are several broad categories trusts tend to fall into:

Where the assets in the trust are held in the name of a trustee, but the beneficiary has the right to access those assets and the trust income at any time as long as they are over 18 years old.

Bare trusts are commonly used to hold assets and provide for children until they are old enough to manage their own finances.

Where the trustees are allowed to decide how to use the trust income (and sometimes the trust assets). What decisions trustees are allowed to make will depend on the terms of the trust deed.

Discretionary trusts are often used to provide for vulnerable people who are not considered able to manage their own finances.

Where all income from the trust must be passed directly to the beneficiary as soon as it arises (minus any reasonable expenses).

Interest in possession trusts are often used to provide for a spouse or partner for the rest of their life, with the assets then passing to your children or another party upon the beneficiary’s death.

Where the income from the trust can be added to the trust’s capital. Trustees may have discretion to use the income to meet the beneficiaries needs as required.

Accumulation trusts are often used where the assets are being held for the beneficiary until they reach a certain age and the income from the trust is not needed in the meantime to meet the beneficiaries needs.

Combining elements of different types of trust.

Mixed trusts can be useful where you need to support a beneficiary whose future needs are hard to predict.

Common questions about trusts

A trustee can be anyone who is:

  • Over 18 years old
  • Of sound mind
  • Not bankrupt or disqualified from acting as a trustee for any other reason

You should ideally name more than one trustee to ensure there is always someone to carry out the role if one of the trustees becomes incapacitated or is unable perform their duties for any other reason.

Beneficiaries can be trustees, but this is not always advisable. It is essential to discuss this with an experienced trust lawyer to make sure the trust will be managed effectively.

If the beneficiary is to be a trustee, it is a good idea to name at least one other trustee who can be relied upon to ensure the trust is managed effectively.

Managing a trust can be complicated and time consuming, as well as being a very significant responsibility. Naming a solicitor as a trustee helps to ensure that the trust will be managed effectively and in accordance with all relevant rules and legislation.

Having a professional trustee such as solicitor can also give other trustees reassurance that everything is being done correctly, while giving you peace of mind that the trust is being managed by someone truly independent who only has the beneficiary’s interests at heart.

Our trust advice fees

Fixed fee trusts and lifetime planning

Handling certain matters, such as preparing trust deeds, can often be carried out for a fixed fee, giving you certainty over the costs involved.

Hourly rates for trusts and lifetime planning

For more complex matters, such as acting as professional trustees, we typically charge an agreed hourly rate, so we can provide the exact level of support needed at all times.

To find out more about our trust pricing, please take a look at our pricing policy.

Speak to our friendly, expert trust solicitors in West London & Buckinghamshire

To discuss your requirements and arrange an appointment with our trust solicitors, you can contact our local offices in Uxbridge, Beaconsfield and Reading or use our short contact form and we will respond swiftly.

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