Trusts

A trust is an arrangement whereby money or property is managed by one person (or persons or organisations) for the benefit of another but is owned by the “Trust”.

A trust is created by a settlor, who entrusts some or all of his or her property to people of his choice “the trustees”. The trustees are the legal owners of the trust property, but they are obliged to hold the property for the benefit of one of more individuals or organisations “the beneficiary”, usually specified by the settlor. The trustees owe a fiduciary duty to the beneficiaries, who are the “beneficial” owners of the trust property. The trust is governed by the terms of the trust document, which is usually written and in deed form.

The main reasons for creating a trust are for:-
a) Estate Planning
b) Tax Planning
c) Family Protection
d) Asset Protection
e) Asset Preservation
f) Business Preservation
g) Charitable Giving

The creation of a trust requires specialist advice, which we can provide.

For More Information
To discuss putting assets into Trust, please contact either Suzi Hornby or Grazyna Scotford on 0208 864 0722 or e-mail them for more information:
• Suzi Hornby: suzi.hornby@lynch-hall.co.uk
• Grazyna Scotford: grazyna.scotford@lynch-hall.co.uk