Creating a trust can be a complex process, so approaching a trustworthy and experienced legal professional is essential. Your lawyer will support you in setting up and managing your trust and can also support trustees with their responsibilities.
As a trustee, you are responsible for looking after a person’s assets on behalf of their beneficiaries. The responsibilities of a trustee can be demanding, so to avoid incurring liability it is essential to seek the appropriate legal advice.
Every person has unique circumstances when it comes to trust creation and maintenance. Therefore, at Bowsers Solicitors, we will take the time to explain the process in detail, answering your questions and putting your mind at ease.
Trusts Solicitors Near Me
There are various reasons why somebody might create a trust, including:
- Facilitating the passing of assets to children or next of kin.
- Funding future education for children, grandchildren or other relatives.
- Financially providing for loved ones in vulnerable circumstances.
- Financially considering children and partners from previous relationships.
- Managing personal injury compensation.
- Reducing inheritance tax payments for beneficiaries. Find out more about estate planning here. *link to estate planning page.
Properly organising, administering, creating, and terminating trusts can be comprehensive and complicated matters, depending on the nature of the estate. In addition, it can be challenging to know whether or not trust creation is appropriate for you.
If you are uncertain about how best to proceed, you should seek the advice of an experienced and well-established lawyer who will outline your options in plain English and ensure you understand your options and related obligations.
If you are looking for trusts advice, please contact our experienced private client solicitors and chartered legal executives today on 01945 583194 (Wisbech) or 01354 652606 (March), or email email@example.com. Alternatively, you can fill in our contact form.
Wisbech and March Solicitors
Bowsers Solicitors are local solicitors for the local community. Our experienced trust solicitors in Wisbech and March have decades of combined experience and can handle a variety of UK assets.
As part of the succession planning process, we can advise on the most appropriate structure for you, whether that is to shelter assets from inheritance tax or manage key life events such as divorce or bankruptcy.
We will always take the time to understand your objectives and guide you on the most appropriate course of action, ensuring you are comfortable with our suggestions and the intended outcome.
To speak to one of our friendly yet professional private client solicitors or chartered legal executives today, please call 01945 583194 (Wisbech) or 01354 652606 (March), or email firstname.lastname@example.org. Alternatively, you can fill in our contact form.
Solicitor for Trusts Cambridgeshire
There are three main individuals involved in the creation and management of a trust which include:
- The settlor who puts assets into a trust.
- The trustee who manages the trust.
- The beneficiary who benefits from the trust.
A trust is legally enforceable, so ensuring that yours is well-structured and robust is vital.
The laws surrounding trusts can be highly complex, depending on the nature and size of the estate, so your assigned legal professional should be experienced and well-qualified.