Trusts

Trusts are used for many different purposes and at their simplest consist of one person (the “settlor”) giving property to a second person (the “trustee”) to hold for the benefit of a third person (“the beneficiary”).

• Key Contacts
• Graham Honey
  David Maxwell
• Ian Naylor
• Request Call Back

There are various reasons for creating a trust including protecting assets from a feckless beneficiary whom you nonetheless wish to assist financially, providing for the education of children and grandchildren, and obtaining favourable tax treatment.

Essentially there are two different types of trust. These are as follows:-

1. Discretionary trusts

The beneficiary has no right to income or capital and receives only what the trustees at their discretion decide he may have

2. Interest in possession trusts

The beneficiary has a right to the income of the trust or the use of the asset held in the trust (usually for life)

For further information, please contact David Maxwell on +44 (0) 20 7725 8079 or click here to email David Maxwell directly.