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Trusts

There are many reasons to create a trust.

The most common are:

  • to protect the family wealth and ring-fence it to pass from generation to generation
  • to fund education for grandchildren
  • to protect the interests of a spouse (while keeping the family assets in the blood line)
  • to mitigate inheritance tax payable on your estate
  • to ensure that vulnerable beneficiaries are looked after for life without the need to pass large funds to them outright

The list could go on and on! Each Trust is unique to the person setting it up (the Settlor), as we recognise that family dynamics can be both complex and sensitive.

How can we help?

Pardoes can assist with the following:

  • Setting up lifetime trusts or within your Will
  • Tax planning using Trusts
  • Gifting assets or transferring your home to a Trust
  • Managing the trusts including:
  • Completion of Trust tax compliance – preparing tax returns, certificates and dealing with Her Majesty’s Revenue and Customs (‘HMRC’)
  • Preparing Trustee resolutions, holding Trustee meetings and advising in relation to the tax and law
  • Preparation of Trust Accounts
  • Drafting Investment Policy Statements, tracking performance of investment arrangements and liaising with Investment Managers where appropriate.
  • Arranging tax efficient investments via appropriate intermediaries.
  • Utilising applicable reliefs from inheritance tax, capital gains tax and income tax by making claims and elections on your behalf to ensure that you do not miss out on entitlements in your agricultural/business or charitable dealings, for instance.
  • Assist Trustees with decision-making to allow the Trust [link] to operate for the beneficiaries in the most tax efficient manner.
  • Providing professional Trustees to act with the Settlor’s chosen Trustees or on their own on behalf of the beneficiaries of the Trust.
  • Breaking a Trust early or winding up arrangements at the end of the Trust Period.

What does it cost?

The service which we provide is entirely up to you. We can provide a full administrative service or the ‘light touch’ and arrange specific service levels to meet your needs. We recognise that some families would prefer not to have the burden of holding the purse strings nor the confidence to recognise and report liabilities to HMRC and so we build a model appropriate to your requirements. Call us to discuss our estimates and ensure that you are receiving a suitable level of support.

If you would like to arrange a meeting with one of our trusts solicitors, contact our team direct on 01823 446219 or freephone 0800 862 0442. Alternatively, complete our online enquiry form and we'll call you back as soon as possible.

Ask Us a Question

Call us free on 0800 862 0442 to speak to one of our friendly advisors, or complete the form below and we will email you back as soon as possible.

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