Whether you are a settlor of a new trust or a beneficiary and/or trustee of an existing trust, our lawyers can advise you on every aspect of the law in this area.
While trusts can be useful vehicles in a variety of situations such as for succession planning and business purposes, providing additional flexibility and control, the law and tax in this area is constantly changing and our lawyers can work with you to understand how the trust could best benefit you, your family or your business.
We advise on:
- the setting up of bespoke trusts to reflect your aims
- the taxation of trusts
- for existing trusts, we review the structuring and provide practical solutions on running the trust or varying or winding up of the trust if needs be
- the types of assets that trusts can hold and these will be dealt with under the trust and tax laws
- advising beneficiaries of their rights
Trustees Duties and Powers
Trustees now have a variety of duties and powers that they must adhere to, along with a duty of care when acting. We are able to help trustees understand what they need to do and when.
We do this through:
- working directly with trustees of new and existing trusts to understand what their aims are
- reviewing and advising on the trustees powers and duties and ensuring that trustees understand their role
- advising on the tax implications when dealing with trust assets
- advising trustees when a dispute or conflict arises