Clifton Ingram

Creation and Administration of Trusts

It is a widely held, but misconceived belief that trusts are exclusively for the wealthy who use them to avoid paying tax. Whilst this may be true in some cases, trusts are very useful vehicles for all sorts of people for all sorts of different purposes.

Trusts can be an important part of your tax or succession planning strategy.

You may wish to set up a trust during your lifetime, or by your will, for any number of reasons (not all of them to do with tax!) and we have considerable legal expertise in this area.

We can advise and assist you with the creation of a trust specifically designed for your personal circumstances and needs.

Types of trust include:-

  • Interest in Possession trusts – used to provide an interest in the income to one person whilst protecting the capital for a different set of beneficiaries
  • Trusts for vulnerable children or adults – used to obtain special tax treatment and protect the capital for the vulnerable person
  • Asset protection trusts
  • Charitable trusts
  • Care fee planning trusts
  • Bespoke trusts for the protection and succession of businesses and their assets
  • Pension death benefit trusts (Spousal Bypass Trusts)
  • Trusts to protect parents’ contributions towards the purchase by a child of his/her home (an increasingly common scenario nowadays)

We can advise and assist you with the general administration of a trust, including advising upon the interpretation of the terms of a trust, advising you regarding your duties as a trustee, and on the inheritance tax, income tax and capital gains tax regimes which apply to trusts, which are very different from those which apply to individuals, and where there are many traps for the unwary which we can help you avoid.

Main Contacts

Peter McGeown
Head of Tax Planning, Wills & Probate
Peter McGeown

Partner and Head of Tax Planning, Wills & Probate Peter is a solicitor with over 30 years’ experience. He is Legal... read more »

Contact Peter McGeown:
petermcgeown@cliftoningram.co.uk
Stephanie Rose
Partner, Tax Planning, Wills & Probate
Stephanie Rose

Partner, Tax Planning, Wills & Probate Stephanie is a solicitor, specialising in Wills, probate and estate planning. She also has... read more »

Contact Stephanie Rose:
stephanierose@cliftoningram.co.uk