Put simply, a Trust is a legal document whereby two or more people (called ‘the trustees’) hold assets on behalf of or for the benefit of another person(s) (called the ‘beneficiaries’)
The trust is created for the benefit of the beneficiaries, but is administered by the trustees.
Trusts give you the opportunity to give up ownership whilst ensuring that the assets are utilised for the beneficiaries as you may wish.
Trusts take many forms and can be extremely flexible and may mitigate Capital Gains Tax and Inheritance Tax.
All our Trusts, Wills & Probate Solicitors are members of STEP (Society of Trust and Estate Practitioners) and are recognised experts in the field. Speak to one of our expert solicitors today to discuss how setting up a Trust may benefit you or your loved ones today.
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