Trust Solicitors

We can assist you with setting up a trust, either during your lifetime or as a provision of your Will. Our team will talk through what you need to achieve and make sure the trust deed reflects this, ensuring that all of the right details are taken care of, minimising the potential for future problems and disputes. We can also advise you on who to name as trustees, so you can be confident the trust will be managed effectively.

If you are a trustee, we can advise you on carrying out your duties and dealing with any problems. By giving you clear, practical guidance, we can help you to discharge your role effectively and save the interests of the beneficiary.

Members of our Wills, Trusts & Probate team regularly act as professional trustees for a wide range of clients. We can take the lead on managing a trust if you would prefer to have qualified legal experts handle this demanding role or we can act in a supporting capacity, providing the benefits of our expertise and training to other trustees.

Where there is a dispute over the terms of a trust deed or the way a trust is being managed, our litigation team can advise and represent you. In most cases, we are able to resolve these types of disputes amicably through negotiation, mediation and other alternative dispute resolution methods.

Where the assets in the trust are held in the name of a trustee, but the beneficiary has the right to access those assets and the trust income at any time as long as they are over 18 years old.

Bare trusts are commonly used to hold assets and provide for children until they are old enough to manage their own finances.

Where the trustees are allowed to decide how to use the trust income (and sometimes the trust assets). What decisions trustees are allowed to make will depend on the terms of the trust deed.

Discretionary trusts are often used to provide for vulnerable people who are not considered able to manage their own finances.

Where all income from the trust must be passed directly to the beneficiary as soon as it arises (minus any reasonable expenses).

Interest in possession trusts are often used to provide for a spouse or partner for the rest of their life, with the assets then passing to your children or another party upon the beneficiary’s death.

Where the income from the trust can be added to the trust’s capital. Trustees may have discretion to use the income to meet the beneficiaries needs as required.

Accumulation trusts are often used where the assets are being held for the beneficiary until they reach a certain age and the income from the trust is not needed in the meantime to meet the beneficiaries needs.

Combining elements of different types of trust.

Mixed trusts can be useful where you need to support a beneficiary whose future needs are hard to predict.

A trustee can be anyone who is:

• Over 18 years old
• Of sound mind
• Not bankrupt or disqualified from acting as a trustee for any other reason

You should ideally name more than one trustee to ensure there is always someone to carry out the role if one of the trustees becomes incapacitated or is unable perform their duties for any other reason.

Beneficiaries can be trustees, but this is not always advisable. It is essential to discuss this with an experienced trust lawyer to make sure the trust will be managed effectively.

If the beneficiary is to be a trustee, it is a good idea to name at least one other trustee who can be relied upon to ensure the trust is managed effectively.

Managing a trust can be complicated and time consuming, as well as being a very significant responsibility. Naming a solicitor as a trustee helps to ensure that the trust will be managed effectively and in accordance with all relevant rules and legislation.

Having a professional trustee such as solicitor can also give other trustees reassurance that everything is being done correctly, while giving you peace of mind that the trust is being managed by someone truly independent who only has the beneficiary’s interests at heart.