A trust is a legal arrangement where one or more persons, called trustees, look after and deal with assets (the trust property) for the trust beneficiaries.
We have a large, diverse and experienced asset management team who specialise in all matters relating to trusts.
Working nationwide, our specialist solicitors offer straightforward and practical advice with sensitivity and care and regularly prepare trusts for all manner of situations and clients.
Our solicitors work with each client individually to provide the highest level of advice to ensure the best provisions are made for you and your family now and in the future.
Hugh James can help create any of the following:
We can advise on setting up a trust, structuring trusts, managing trusts and on choosing trustees.
Hugh James also advise trustees on how to meet their obligations and duties and we regularly act as professional trustees to ensure our clients’ wishes are carried out to the letter.
We offer a trusts administration service to trustees to ensure the many administrative requirements of acting as a trustee are fulfilled, such as holding an annual meeting to discuss investments and filing tax returns.
Trusts can be useful for a variety of purposes, especially when minimising your future tax liabilities.
Trusts are often used as a means of protecting family wealth, holding property for a number of individuals, preserving assets for future generations and managing assets for those who cannot do so themselves either due to age or mental incapacity.
The trust deed, which might be incorporated in a will, establishes the obligations of the trustees and how they are to exercise those obligations on behalf of the beneficiaries.
It is essential to have trusts drawn up properly as they establish control over assets for a long time, possibly decades. Also it is important to build in flexibility to allow for changing circumstances in the future and to choose trustees who understand their duties and who will carry out your instructions carefully.
There are many different reasons for using trusts. They include: