Step-by-step guide to setting up a trust

A trust is a way of placing the ownership of assets into the hands of chosen individuals (trustees) who look after the assets for your intended beneficiaries.

They can be used for many different purposes including asset protection.

So that you know exactly what to expect when setting up a trust, we’ve put together a step-by-step guide:

Step one

When you contact Beswicks’ private wealth team, we will have an initial conversation to establish the details of the trust required. We will then set up a meeting with you which can take place either over the phone, via Microsoft Teams or at one of our offices.

Step two

At your meeting we will provide advice on the most appropriate trust structure for you. We will also discuss costs and take your instructions.

Step three

Following the meeting we will send you terms of engagement, terms of business and a letter of advice. You will need to sign the terms document and make a payment on account. Once payment is received, we will be able to prepare your trust deed.

Step four

Your completed trust deed will be sent to you for approval. Signing can take place in person with a member of our team on-hand to supervise or we can provide instructions on how to sign the document.

Step five

You will be sent a copy of the signed deed and advised of the most appropriate next steps dependent on your personal circumstances. This may include dealing with Land Registry requirements and registering the trust with HMRC.

Typically, the process will take 2 weeks from instruction to signature, and thereafter the registration with HMRC and Land Registry (where applicable) will be subject to their own service standards.

Meet the team

Our specialist private wealth team helps families to put proper arrangements in place to protect their family’s future and their assets.

Our experienced solicitors can guide you through the whole process of setting up a trust. For advice on your personal circumstances and requirements, get in touch for a chat .

Why use a qualified solicitor?

By using an experienced solicitor, you are guaranteed a high level of expertise in even the most complex of cases.

Our solicitors are all registered with the Solicitors Regulation Authority and as such are subject to strict regulations, granting you complete protection and peace of mind when it comes to qualifications, experience and standards.

We are also always completely transparent about costs.