What are trusts?
A trust is an arrangement whereby one person (the settlor) transfers assets (which may include property, cash or investments) to another person (the trustee) for the good or benefit of a third person or group of people (the beneficiaries).
A trust is a way of managing assets for people and are set up (often in conjunction with a will) for a number of reasons including:
- provision for a spouse or civil partner;
- protection of young children’s inheritance;
- provision for vulnerable people who are unable to manage their own affairs;
- residential care home fee planning;
- protection of personal injury compensation; &
- tax and estate planning.
For anything further, one of our specialists would be delighted to meet you either in our office or in your own home to talk through your requirements and answer any questions. Please contact us at any time.