Trust Solicitors Brighton and Hove

TRUST SOLICITORS BRIGHTON AND HOVE

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Trusts Explained

Trusts are a highly bespoke and complex part of law which enable the safekeeping of money and assets by a trustee. If set up correctly, trusts can be a powerful tool to stave off unwarranted claims on your estate, or to provide for dependants and beneficiaries. However, done incorrectly, trusts can attract increase tax obligations and cause unnecessary confusion. Our wills and trusts solicitors have extensive experience of setting up all types of trusts and can advise you on your circumstances.

What Is a Trust?

A trust is a legal entity that means a person or people of your choosing can benefit from one or more of your assets, without being named as the legal owner. When creating a trust, you become the trustee and anyone you choose to receive an income from that trust becomes a beneficiary. Establishing a trust allows you a degree of control over your assets that you wouldn’t otherwise have if you gave them away. Tax advantages can also arise from establishing a trust, but this is not always the case, which is why you should always seek the legal advice of a will solicitor before setting one up. There are many types of trust, but the most common ones are will trusts, which are created upon your death; and lifetime trusts, which you establish during your lifetime. For advice on which to choose, speak to one of our wills and trusts solicitors in Brighton and Hove.

Will Trusts vs Lifetime Trusts

Will trusts form part of wills and are most commonly established for two reasons:

  • If you remarried but have children from a previous marriage that you would like to provide for after death; or
  • If any beneficiary of your will is a minor (below the age of 18) and cannot under law receive a gift. A trust can be set up to hold the gift on their behalf.

Lifetime trusts are created while you are alive and are established to:

  • Protect an interest in your property if you are required to go into long term care
  • Offset or reduce inheritance tax liabilities

Why Use a Wills and Trusts Solicitor?

Trusts can be your best friend or worst enemy depending on how they have been established. Your assets should be handled exactly as you want them to be – both while you are here and after you are gone. Our will solicitors work closely with you to understand your requirements and will help create trusts if necessary. Set up correctly, trusts can help:

  • Safely pass on assets to the next generation
  • Fund education for your children and grandchildren
  • Provide for vulnerable loved ones
  • Provide for children and partners from different relationships
  • Manage personal injury compensation
  • Reduce inheritance tax payments
  • Protect assets from creditors or divorced partners

How Much Does It Cost to Set Up a Trust?

Whether you specifically want a basic trust set up, or our will writers suggest to include one in your will to achieve your goals, this is included in our standard wills drafting service starting from £400 plus VAT. For more complex wills involving business assets or large numbers of beneficiaries, our complex will service starts from £600 plus VAT.

Continue Exploring Wills

BLOODLINE WILLS

CONTESTING A WILL

INHERITANCE TAX AND WEALTH STRUCTURING

MIRROR WILLS

WILLS

How Can Our Will Solicitors Help?

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Why Choose Britton and Time’s…

Will Solicitors?

Britton and Time is proudly regulated by the Solicitors Regulation Authority and our solicitors believe in offering no nonsense, common sense advice with up-front pricing. We do this through our 6-point service guarantee:

PROFESSIONAL FEE PROMISE

We will offer fixed fees where possible, and if not, we will state clearly what your case is estimated to cost, alongside hourly rate options so you can judge what works for you

SURPRISE-FREE PRICING

We will inform you when we know there will be third party costs to be paid. If additional third party payments are required, we will always seek your approval first

REASONABLE TIMELINES

We will let you know how long your case will take, what delays you can expect, and our solicitors will always reply to you in a timely manner

BILLING TRANSPARENCY

We bill every month, with detailed accounts of what you are being charged for. Our solicitors are happy to discuss if you have any questions about your bill.

CLEAR CASE MANAGEMENT

Before work starts, we will tell you what work needs to be done to reach the best outcome for you, and what your options are once you reach that point

OBJECTIVE ADVICE

We never take on cases we do not feel we can do justice and if your case does not need a solicitor, we will tell you just that and advise you what your options are

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