Family Trusts, including creation and administration

When you wish to set up a trust to manage your assets or someone else’s, then you will need to work with an experienced family trust solicitor who can put in place all arrangements to draw up the deed. There are many reasons as to why you may wish to use a trust within your will and estate, and there are equally many trust types to choose from.

What is a trust?

A trust is something a person or a few trusted people hold and administer on behalf of another person. The idea of a trust is that it allows you to plan for the future with inheritance or estate planning and electing people you can trust to respect your wishes.

The assets within a trust normally revolve around property, shares or money that the particular person possesses and wishes to pass on. The person or people respecting the demands in the trust are known as a trustee or trustees, and the person the trustee(s) are holding it on behalf of is known as the beneficiary.

The concept of a trust

Trusts can be set up at any time in your lifetime, and they’re a very common addition to your Will. A trust is a legal document (known as a trust deed) which is created to place assets of the beneficiary into, and allowing control of the assets to the assigned trustees.

The idea is that the trustees will be tasked to manage the assets in the best interest of the beneficiary on the trust documentation.

Retain control on where your money goes

Trusts are a great way to protect your assets for children and grandchildren who are too young to handle financial affairs. Through doing so, you are protecting your assets and ensuring they go straight to your children or grandchildren – this is particularly popular for those whose children are married to someone who they’re not keen on, and you want to ensure the assets go to the children.

You can find out a great deal more by working with one of our experienced family trust solicitors.

Charles Goodbody Partner Head of Family and Private Client Warminster

Charles Goodbody (Wiltshire)
Partner - Head of family and private client

Please Contact

01985 214444

Michelle Stopford Solicitor Warminster

Michelle Stopford (Wiltshire)

Please Contact

01985 214444

Solicitors in Warminster and Westbury, Wiltshire and Andover and Stockbridge, Hampshire

Alexa Merchant (Wiltshire)

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01985 214444

Solicitors in Warminster and Westbury, Wiltshire and Andover and Stockbridge, Hampshire

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01264 333336

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