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Trusts are useful mechanisms whereby money is held by Trustees on behalf of beneficiaries. Trusts can be created in your lifetime or upon your death via your Will. There are several types of Trusts serving different purposes. The trustees can be family members or friends, or professional trustees such as accountants, solicitors or a Trust company. They will hold the Trust Fund and act in accordance with the terms of the Trust deed or Will.
Examples of why you might consider setting up a Trust Fund or Account are:
At Forbes Solicitors we can advise you on all aspects of Trusts, whether it be advising on tax implications or Trust Deeds, administering a Trust or winding up a Trust. We are also happy to act as Trustees and regularly do so for our clients.
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