A trust lets you set aside money, property or investments for the people you care about, with trustees you choose managing those assets for them. At UK Wills and Trusts we create bespoke family trusts that protect your wealth and give you control over how and when it passes on.
What is a family trust?
A trust is a legal arrangement in which a settlor (the person setting up the trust) gives assets to trustees, who look after them for the beneficiaries. Trusts can be set up during your lifetime or through your will, and can last for many years.
Benefits of setting up a trust
- Protect assets for children until they are old enough to manage them
- Provide for a vulnerable beneficiary without affecting their means-tested benefits
- Protect your share of the family home for your children if your partner remarries
- Keep wealth within the family across generations
- Help with Inheritance Tax planning as part of a wider estate plan
- Give you control over when and how beneficiaries receive their inheritance
Types of trust we can help with
- Property protection trusts – often included in mirror wills to protect each partner’s share of the home
- Discretionary trusts – trustees decide who benefits and when, offering maximum flexibility and protection
- Life interest trusts – a beneficiary can use an asset or receive its income during their lifetime, then it passes to others
- Bare trusts – a simple trust where the beneficiary is entitled to the assets outright, often used for children
- Vulnerable person trusts – designed to support a disabled or vulnerable beneficiary
How we set up your trust
- Free consultation – we discuss your family, assets and goals.
- Recommendation – we explain which type of trust suits your circumstances.
- Drafting – we prepare the trust deed or will trust and walk you through it.
- Completion – we help you sign and put the trust in place, and explain your trustees’ responsibilities.
Frequently asked questions
Do trusts need to be registered?
Many UK trusts must be registered with HMRC’s Trust Registration Service, even if no tax is due. We will explain whether your trust needs to be registered and what your trustees need to do.
Who should I choose as a trustee?
Trustees should be people you trust to act responsibly and in the beneficiaries’ best interests, such as family members, close friends or a professional. It is usually sensible to appoint at least two.
Is a trust only for wealthy families?
No. Trusts are used by families of all sizes, for example to protect the family home, provide for young children or support a vulnerable relative. Read our guide to trust essentials to learn more.
Ready to get started? Book your free will consultation or call us on 07384 292818.