Trusts
Our experienced estate planning solicitors are on hand to provide practical legal advice relating to all aspects of trusts. Whether you are wondering how to safely pass on assets to your children or grandchildren, or are simply looking for a way to manage your wealth sensibly, we can help.
Ramsdens Solicitors is recognised across Yorkshire as an award-winning legal firm that is renowned for high-quality services and dedication to our clients. We understand that estate planning may appear complicated, and will do our utmost to provide pragmatic advice that will give you peace of mind that your affairs are in order.
Speak to our dedicated trusts solicitors today by calling 0800 988 3650, or complete our online enquiry form and our team will advise you of the next steps with the utmost compassion and care.
How we can help
Our expert solicitors will help you to protect and manage your assets both now and in the future by providing legal guidance that caters to your specific circumstances. Setting up a trust is an effective way of managing wealth - including money, investments, property, or land - for you and your family.
The specialist trusts solicitors at Ramsdens can help you to set up a trust to:
- Pass on assets to the next generation
- Set money aside for your children or grandchildren's education
- Provide for children and partners from different relationships
- Cater for minors when they are too young to handle their affairs
- Provide for family members or friends who cannot handle their affairs because they are incapacitated
- Preserve personal injury compensation
- Provide for vulnerable members of your family
- Reduce inheritance tax payments
- Protect assets from creditors or divorcing partners
No matter what your reason for setting up a trust is, we are on hand to guide you every step of the way, and you can rest assured that you are being given the best-quality legal advice.
We understand that every person has a different set of circumstances and requirements, and that each family is unique. Therefore, our solicitors will work closely with you to provide a bespoke plan that is catered specifically to your needs.
Our team can also offer advice on creating, administering and ending your trust.
The Trust Registration Service
The Trust Registration Service (TRS) was introduced in June 2017 as part of the UK’s Money Laundering regulations. It requires trustees to report information to HMRC about the trust, setting out details of the settlors, trustees, beneficiaries and associated data. There is also a requirement to keep this information updated for any changes.
Previously, only trusts which paid certain taxes in the UK had to register, however HMRC have now moved matters on and non-tax paying trusts have also come under the scope of being required to register, bar certain exceptions which we can advise on.
The deadline for registering these non-taxpaying trusts is 1 September 2022 or within 90 days for trusts created on or after 1 June 2022.
If you have a trust which you believe will meet the registration criteria, please get in touch and we will be happy to help you with the registration process.
FAQS
WHO CAN BE A BENEFICIARY?
You can choose anyone to be a beneficiary of a trust, such as:
- A specific individual who you have selected
- A number of people - such as your grandchildren and their descendants
- A body of people - such as a business or a sport club
- A charity or multiple charities
HOW DO I SET UP A TRUST?
In order to set up a trust, you will need to include details of how the trust should be managed by creating a document called a ‘declaration of trust’. This should include information about:
- Who your appointed trustees will be
- Who will benefit from the trust
- Which assets will be included in the trust
- How you want those assets to be managed
- How you want benefits of the trust to be distributed
Although it is possible to draft a declaration of trust yourself, this area of the law is particularly complicated. The declaration of trust must be worded in such a way to ensure that your assets are protected and the terms of your trust are in line with your wishes.
Seeking assistance from an experienced solicitor who can guide you through the process, offering advice at every stage, will give you the peace of mind that your affairs are being handled in line with your wishes.
WHY CHOOSE US?
When dealing with Ramsdens Solicitors, you can rest assured that your case will be handled with the utmost care and consideration. We have many years of experience in helping individuals to set up trusts, and we have the knowledge required to ensure that your individual circumstances will be taken into account.
We offer:
- Fast responses to all communication
- Specialist solicitors to deal with your case
- A friendly, confidential service
Find out more about our awards and accreditations.
Contact us
We are ready to help you with all aspects of trusts and estate planning. Speak to Ramsdens Solicitors today by calling 0800 988 3650, email us at PWS@ramsdens.co.uk or fill out our online enquiry form to request a call back at your convenience.
Key Contacts
