Many people use a Trust as a way to protect assets and maximise what can be passed on to others, such as children or grandchildren in a tax efficient manner.
People make a Trust for many different reasons, for instance to protect a compensation payment, fund school fees, protect assets from erosion via divorce, provide an income to another person during their lifetime, establish a charity or provide for a disabled person, the options are varied and to a point limitless.
Each Trust can have different terms, tax treatments and rules that dictate how administration of the trust is required. At Thompsons our solicitors have the knowledge and experience to offer you clear and practical legal advice when creating a Trust ensuring you make the most suitable choice for what you seek to achieve.
Creating a Trust allows you to choose individuals to help and support you in managing your finances.
Types of Trusts:
- Personal Injury Trust
- Bare Trusts
- Charitable Trusts
- Bereaved Minors’ Trusts
- Disabled Trusts
- Immediate Post Death Interest Trusts
- 18-25 Trusts
- Interest in Possession Trusts (Liferent Trusts)
- Discretionary Trusts
Talk to Thompsons
For advice on what Trust would be best suited to your circumstances contact Shona Macnaughton on 0800 089 1331. Shona has a particular interest in Trusts, in addition to advising trustees Shona acts as trustee for a number of Trusts.
Shona and her team will talk you through the different types of Trusts available ensuring you fully understand all your options and will provide the advice and support required to set up a Trust.