What is a trust?
A trust is a legal arrangement which provides for assets to be transferred from one person (the ‘Settlor’) to others (the ‘Trustees’) to hold for the benefit of the beneficiaries. They can be set up during a person’s lifetime or within their Will. Trusts can be useful tools where the beneficiaries are minors or are vulnerable in some way, as they allow others to look after the assets on their behalf without removing the beneficiary’s benefit.
If the terms of a trust have been breached, a claim can be made at Court within 6 years from the date of the breach. If the claim is in relation to a deceased person’s Estate, a claim can be made within 12 years from the date of the breach.
How can we help?
Our solicitors and legal staff can advise on the creation and administration of a Trust and on the different tax treatments that apply to different types of trust, as well as advise you on the prospects of a breach claim.
Oliver Fisher Solicitors can assist you in drawing up trusts as well as advising you on the tax implications. We provide a flexible and helpful approach and can assist you as much or as little as you need.
Please contact our solicitor Stephen West on 0203 219 0145 or email him at stephen@oliverfisher