Trusts

Trusts of all sorts exist and can provide an important legal tool for your personal and business needs.

They may be created expressly during lifetime, or included in a Will, or may arise by operation of law or as a result of the court assessing behaviour.

There are special cases such as protective trusts, trusts created for disabled persons, trusts directed by the court as a result of personal injury claims, pension trusts, and charitable trusts.

A living trust, also known as inter vivos trust, is established during lifetime and is able to:-

• protect your assets;
  
  
• protect your beneficiaries;
  
  
• retain control over assets and beneficiaries by setting out the terms of use in the trust deed;
  
  
• treat income and capital in different ways;
  
  
• save tax;
  
  
• avoid the need to obtain a grant of probate or letters of administration.

We are able to find answers that meet your immediate and long term needs and have considerable experience in drafting new, and revising existing trusts.

Trustees

A trustee’s role carries numerous legal and financial duties. These can be implied (and therefore governed by legislation) or expressed within the trust deed. In creating an express trust it is common to amend the implied powers and to add to them.

We are able to ease a trustee’s burden by dealing with the necessary administration and providing practical guidance in relation to your duty and powers.

For further information please contact:- Jean Nixon by:

• email jean.nixon@bhmllp.co.uk
• or by telephone on 01604 624822