Trusts Solicitors in Sidcup, Bexley and Kent
Often Trusts can be used as very effective tools to control and often reduce the payment of tax, whilst also being able to benefit others without handing over to them complete control of money and property.
Trusts can either be created during a person’s lifetime or under the terms of their will.
There are different types of Trust to suit what a person is looking to achieve. The three main types of Trust are Discretionary Trusts, Life Interest Trusts and Bare Trusts. There are also special trusts for disabled beneficiaries. Each type of Trust is subject to different tax regimes.
Sometimes there is a wish or need to bring a Trust to an end. For example, sometimes what is known as a Nil Rate Band Discretionary Trust contained in a will, is bought to an end within 2 years of a person dying so as to take advantage of the more generous inheritance tax laws for married couples and civil partners which now exist.
We will explain in clear terms the different types of Trust available, their benefits and tax implications. We can also provide guidance and assistance whilst the Trust is up and running.
Our services include:-
- Advising and drafting of Trusts contained in wills;
- Advising and drafting Trusts created in a person’s lifetime;
- Explaining the different types of Trust so that a person can understand whether they want a Trust and if they do the most appropriate type for their circumstances:
- Bringing Trusts to an end; and
- Drafting other Trust documentation such as Deeds of Retirement and Appointment of Trustees and Deeds of Appointment when Trust assets are passed to beneficiaries.