Will Trusts

It’s important to appoint somebody who has authority to manage your affairs if you aTrust Law is complex, but at Morecrofts, our Private Client Solicitors have a wealth of experience in providing expert advice.

We can assist you in the following matters:

Drafting your Will to include discretionary trusts to protect your assets from being swallowed up in care fees or for your children if your spouse should re-marry.

Establishing and administration of trusts, preparation of accounts for trustees and preparation of trust tax returns.

Advising on trusts to provide income for a surviving spouse or to protect assets for a vulnerable child or other relative.

Ensuring wealth passes to future generations whilst minimising the inheritance tax liability.

Protecting business assets for your family.

What’s the difference between wills and trusts?

A Will can be written in someone’s lifetime but is only effective when the person who made the Will dies. A trust is a legal entity which is able to manage assets by trustees for the benefit of beneficiaries.

Who needs a trust instead of a will?

• Children under the age of 18.
• Persons with a severe disability.
• Person who wish to plan for reducing Inheritance Tax and Asset Protection

How do trusts work?

Trusts are legal arrangements where trustees hold and manage assets for another party. The trustee will make the distributions to beneficiaries as specified in a trust agreement.

How much does it cost to set up a trust?

It depends upon the type of trust (what the clients needs are and the most suitable type of trust for them) but usually they start from £750 plus VAT.