Trusts
What Information Do You Need When Setting Up A Trust?
When setting up a trust, you will need to choose solicitors specialising in trusts who will discuss with you your aims, intentions and assets. This will enable them to fully understand your position and give you the very best advice about the kind of trust that will work for you. Some trusts are created as part of your will and others are standalone. Your trusts solicitor may request a copy of your will and might recommend that this is reviewed as part of the process of setting up your trust.
As with all solicitors’ appointments, you will be asked to provide documents to verify your identity prior to instructing your trusts solicitor. This is a standard requirement and can often be done online or by bringing in documents such as your passport, driving licence, utility bills and so on. Your solicitor will explain to you exactly what is required.
Our step-by-step guide to setting up a trust provides additional information on the whole process.
Why You Should Use A Solicitor to Help You Set Up Your Trust
A trust is a legal arrangement for managing assets and as such should be set up by solicitors specialising in trusts.
Trusts can be complex and the wording used when establishing a trust must be very precise. Allowing someone who is not a trusts solicitor to set up your trust runs the risk of mistakes which could have serious consequences.
To be legally binding your trust must be established and overseen by a trusts solicitor. Your solicitor can help you register your trust with the government’s Trusts Registration Service, a requirement for the vast majority of trusts now.
By using an experienced trusts solicitor, you can have absolute confidence that your estate is structured in the correct way to ensure your beneficiaries are provided for and your assets protected.
How Beswicks Legal Can Help with Trusts
Trusts are versatile tools that can give you control when passing assets to children and grandchildren, managing wealth, holding death benefits from life insurance or pension or planning your inheritance tax exposure
Our trusts solicitors work with you to find the right solution for your unique circumstances.
We are registered with the Solicitors Regulation Authority. This means we are subject to strict regulations, guaranteeing that our wills and trusts solicitors are fully qualified, experienced and adhere to the highest possible standards.
To discuss whether a trust would be right for you, contact us today to book an appointment with one of our wills and trusts solicitors.
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Your questions... answered
Why do I need a Trust?
Trusts have a number of benefits including enabling people to provide for c
Is it a good idea to put your house in a Trust?
In some circumstances putting your house in a trust can be a good idea, for
When must you register a Trust?
Most trusts need to be registered, except in very limited circumstances. Yo
What are the tax responsibilities for a Trust?
The tax responsibilities are complex and vary depending on the type of tru
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