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Start NowThe creation of a trust is a big decision that requires careful consideration. A person's will can create a trust, or it may be set up during their lifetime. A 'trust' is a relationship that is recognisable and can be enforced in the courts.
Trusts can be set up for several reasons, but they can also often be confused as something only wealthy people can afford. However, this is not the case.
More often than not, the trust can really help your family. There are various trusts, many of which we can help you with. This includes:
Charitable Trusts.
Lifetime Property Trusts.
Trusts are allocated only to a trusted individual to protect money and assets for the future.
In addition, if you are appointed as a trustee, you will be responsible for any money or assets that have been transferred to you by the settlor. This then becomes a trust fund for the beneficiaries.
In some cases, there may be one trustee and one beneficiary, but the sole trustee cannot be the sole beneficiary, as then there would be no trust in the relationship.
If you are considering creating a trust or you would like some advice regarding the administration of an existing trust, then do not hesitate to contact our experienced solicitors, who can help to guide you through this extensive process.
