Trusts

Trusts can be confusing.  That’s because there are so many different types of trusts, with so many different purposes, and with so many different names.  As intimidating as trusts appear to be, there is a relative simplicity that runs through them.  That simplicity gives order and meaning to the various types of trusts that exist today, which, in turn, allows all of us to understand and appreciate the seemingly endless array of trusts before us.

There are a number of different kinds of Trusts. Choosing the right one is crucial. Here are some examples:-

Trusts can arise under a Will or be set up during the lifetime of the person creating the Trust (Settlor).  The changes of 2006 in trust legislation have arguably made Trusts more complicated however this does not have to mean increased costs.  Trusts have been around for 800 years and continue to be an excellent tool in preserving family wealth mitigating tax and passing wealth down to the next generation.

Trust Set Up and Advice

We can advise you on whether to set up a Trust, what type of Trust might be appropriate and how to do tax planning through Trusts.  We have a wealth of experience advising on existing Trusts.  Our main value-added expertise surrounds the administration of Trusts.  Our smooth processes, efficient systems, and expertise ensures clients can benefit from most efficient and cost-effective Trust administration service the market has to offer.  Such efficiencies allow us to take on Trusts of ANY size and add value to them.

We are experts in managing family and charitable Trusts, dealing with their day-to-day administration and all other issues which can arise including:

• Preparation of Annual Trust Accounts
• Completing and lodging Annual Trust Tax Returns including payments on account of tax
• Dealing with IHT events such as appointments of capital
• Day to day bookkeeping such as recording entries of income and capital events
• Liaising with other professional advisors on behalf of Trustees or beneficiaries regarding Trust assets (e.g. investment advisors, property managers)
• Advising Trustees and beneficiaries on their duties and interests/rights respectively
• Advising on potential advantages available under the income and capital gains tax regimes
• Acting as trustee through our very own Trust Company
• Adhering to annual compliance and regulation relating to Charitable Trusts

We offer free consultations for anybody with an existing trust as well as offer advice for anybody trying to set up a trust. Get in touch to find out more.