Introduction to trusts
We have extensive experience in the creation, administration and termination of family trusts both in England and offshore, and we offer specialist advice on all aspects of the use of trusts. Trusts are not always the answer, but can serve a very useful purpose in many situations. For more information please see our guide to trusts.
How Vardags can help with trusts
We can prepare lifetime trusts as part of your succession planning, or will trusts to protect your assets for young, disabled or vulnerable loved ones.
We can help parents or grandparents might wish to set up trust funds for the benefit of younger generations, with the assets transferred to the trust falling outside the donor’s estate for inheritance tax purposes once the donor has survived the gift by seven years.
Once a trust is created we can deal with all of the accounting and tax compliance work which may be needed on an ongoing basis.
We can deal with the termination of trusts, including all related tax and general advice, as and when it is felt that they are no longer required given all relevant family circumstances.
If you are a trustee or a beneficiary sometimes issues can arise concerning a trust.
If you are a trustee we can assist with the following:
a) Defences to breach of trust claims
b) Unforeseen tax liabilities
c) Handling difficult beneficiaries
If you are a beneficiary we can assist with the following:
a) Seeking information from trustees
b) Requesting distributions from trustees
c) Speeding up the administration of trusts
d) Actions for fraud or breach of fiduciary duties
The first step is to arrange a meeting with one of our solicitors. Therefore, please call us on 020 7404 9390 or email us to make an appointment to come and see us.