Trusts

WHY GLOVERPRIEST?

A trust is a legal arrangement that allows one group of people (the trustees) to manage money or other assets for the benefit of other people (the beneficiaries).
There are many types of trust which can be set up during the Settlors lifetime by way of a Trust Deed or upon death made under a Will. In a lifetime trust assets are then transferred to the Trustees.

Why set up a Trust?

When making gifts of money or value, Trusts should be considered. Examples of why you might consider setting up a Trust are:

• Protect assets for your chosen beneficiaries
• Protect assets for a child who is irresponsible or going through a divorce
• Make provision for a vulnerable or disabled beneficiary
• Mitigate tax liability by creating a Trust for death benefits or a life insurance policy
• Provide for minor beneficiaries
• Make provision for a spouse where you have children from a previous relationship or other beneficiaries who you would ultimately like to benefit from the assets
• Define your interest in a property or land

How we can help?

Setting up a trust is a very complex area of law and for this reason, it needs a professional touch. We have an experienced team dedicated to advising on, setting up and administering Trusts, helping you to protect your assets. Areas we can support in include;

• Management of your trust day to day
• Preparation of any legal documentation
• Finalise your trust and advise on any tax implications
• If you’re a beneficiary, we can advise on your rights, tax position and the duty of the trustees.

We can offer an initial consultation to see if our services and your requirements match up and then define the steps forward.