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Trusts

You can’t take it with you. But passing on your assets to the next generation is not always straightforward. Sometimes those you want to benefit are either too young or are unable to look after their own affairs.

A trust provides an ideal solution because it allows those more responsible (trustees) to hold assets for the benefit of others (beneficiaries). The trust may comprise any asset, from property or insurance policy benefits to personal belongings, money or land.

Whether you want to ensure flexibility over how your assets are used, limit your tax liabilities, or protect your assets from divorce or bankruptcy, Stone King’s trusts and estates team can help. Our skilled solicitors can advise you on how to protect your family wealth in the most tax efficient way.  We can also help you with the following:

• Creation and termination of trusts. Our solicitors can advise on the setting up, variation and termination of trusts and all the taxation consequences of these actions.
• Advice on trustees' duties.  The duties of a trustee can be onerous. We can advise trustees of their responsibilities and duties.
• Advising beneficiaries.  Our solicitors can advise beneficiaries on their rights and entitlements.
• Trust administration and taxation.  Trusts carry a fair degree of administration and have their own taxation regime. We can help you deal with the administrative burden to keep everything in order.
• Dealing with disputes.  We can help resolve disputes and advise trustees about litigation if necessary.
• Acting as Trustee.  Our solicitors regularly act as professional trustees either on our own or alongside lay trustees.
• Independent examination of charity accounts. Charitable trusts are required to prepare accounts and make annual returns to the charity commission.  We can help with the necessary formalities.