Trusts

Planning for the Future, Protecting Your Assets

You've taken the important step towards getting started to create your will, but have you considered the broader aspects of estate planning?

Why Trusts and Estate Planning Matter:

Estate planning goes beyond just distributing assets; it's about maximising their value and protecting them for future generations.

Trusts play a crucial role in estate planning, offering a range of benefits, including:

Asset Protection: Trusts can shield your assets from creditors, lawsuits, and other potential threats, ensuring they remain intact for your beneficiaries.

Tax Efficiency: Certain types of trusts can help minimise inheritance tax and other tax liabilities, preserving more of your estate for your loved ones.

Control and Flexibility: Trusts allow you to dictate how and when your assets are distributed, providing greater control over your legacy and protecting vulnerable beneficiaries.

We understand that trusts and estate planning can seem daunting. That's why we're here to demystify the process and provide tailored guidance to meet your unique needs.

Types of Trusts:

There are various types of trusts available, each serving different purposes and offering distinct advantages.

Here are a few examples:

Living Trusts: Also known as revocable trusts, living trusts allow you to transfer assets into the trust during your lifetime and specify how they should be managed and distributed upon your death.

Irrevocable Trusts: Irrevocable trusts cannot be changed or revoked once established, offering greater asset protection and tax benefits but requiring careful consideration before implementation.

Discretionary Trusts: These trusts give the trustee discretion over how and when to distribute assets to beneficiaries, providing flexibility to respond to changing circumstances.

Bare Trusts (or Simple Trusts): Bare trusts are the simplest form of trust where the beneficiary has an absolute right to the assets held in trust, once they reach a certain age or other specified conditions are met.

Vulnerable Persons Trusts: These trusts are designed to protect assets for individuals who lack capacity or are otherwise vulnerable, ensuring their long-term financial security while maintaining eligibility for means-tested benefits.

How We Can Help:

As a trusted barrister and estate planning advisor, Richard can assess your unique circumstances and advise

On the most suitable trust structures for your needs.

He'll guide you through the process, explaining complex concepts in clear, understandable terms and ensuring

You have the information you need to make informed decisions.

There are times when a simple will is not enough, and that's where Richard's expertise comes in. He'll work with you to develop a comprehensive estate plan that protects your assets, minimises tax liabilities,

And ensures your wishes are carried out exactly as you intend.

We believe that estate planning shouldn't be complicated or overwhelming.

Please reach out to us so that we can understand your individual situation.