Our Trust Solicitors help individuals and families create clear legal arrangements to protect assets, support loved ones and plan for the future.
A trust can help with inheritance tax planning, providing for children or grandchildren, protecting property, supporting a vulnerable beneficiary, or making sure assets are managed carefully after your death.
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Trusts
At Flint Bishop, our Trust Solicitors help individuals, families, trustees and executors understand whether a trust is the right option and how it should be set up. A trust is a legal arrangement that allows appointed trustees to hold and manage assets for the benefit of others, in line with the terms you put in place.
We understand that trust planning often involves personal decisions about family, wealth, responsibility and long-term security. Our Trust Solicitors will explain the different options in plain English, help you understand the practical and tax considerations, and work with you to put clear arrangements in place that reflect your wishes.
With teams of Trust Solicitors in Birmingham, Derby, Leeds, Sheffield, Swansea and York, Flint Bishop supports individuals and families across England and Wales. Our Wills, Probate, Tax and Trusts team brings over a century of experience, with STEP-recognised solicitors and a dedicated solicitor to guide you throughout the process.
Whether you are planning ahead, reviewing existing arrangements or managing a more complex estate, our Trust Solicitors will listen carefully and explain the next step clearly. Contact Flint Bishop today to understand your options.
Assets placed in a trust may qualify for IHT relief or exemptions under certain conditions. For example, discretionary trusts can help reduce the taxable value of your estate, though they may be subject to a 20% entry charge if the value exceeds the IHT threshold. These trusts may ALSO incur further charges every ten years and when assets are distributed.
Trusts that generate income are subject to income tax, typically paid by the trustees. The applicable tax rates depend on the type of trust and the status of the beneficiaries. Proper structuring can help minimise the impact.
When trust assets increase in value, CGT may apply when they are sold or transferred. However, some trusts benefit from exemptions, allowances, or lower rates. Planning is essential to avoid unexpected liabilities.
Our STEP-recognised specialists will assess your circumstances and advise on the most suitable trust structure to help you reduce exposure to IHT, income tax, and CGT, ensuring your wealth is preserved for the next generation.
Trusts
Not all trusts are created equal—each type is designed with a specific purpose in mind and offers unique advantages and limitations. Understanding these distinctions is crucial to selecting the right trust structure that aligns with your personal goals and circumstances.
Some trusts may provide enhanced control over assets, while others focus on tax efficiency or protecting the interests of beneficiaries. The table below provides a brief overview of the main types of trusts, helping you make an informed decision about which option best suits your needs.
| Discretionary trust | Property trust | Charitable trust | Disabled person’s trust |
|---|---|---|---|
| A discretionary trust allows trustees to distribute assets flexibly based on the changing needs of beneficiaries. | Property trusts protect a share of your home, often ensuring children inherit their portion despite changes in family dynamics. | An enduring charitable trust offers a meaningful and lasting way to make a difference through philanthropy. | A disabled person’s trust safeguards financial resources for individuals with disabilities while preserving access to state benefits. |
Frequently Asked Questions
A settlor is the person who creates a trust and transfers assets into it. Trustees are responsible for managing and distributing those assets in accordance with the trust’s terms. Beneficiaries are the individuals or organisations entitled to rceive benefits from the trust.
A trust can hold a wide range of assets, including cash, property, investments, and valuable possessions. The types of assets you place in a trust will depend on your financial goals and estate planning objectives.
While it is not legally required to use a solicitor, trusts can be complex. Professional guidance helps ensure they are set up correctly, tax-efficiently, and in full compliance with the law.
Placing property in a trust can limit your control over it, and depending on the type of trust, there may be tax implications and administrative costs. Additionally, some mortgage lenders may impose restrictions.
Some trusts can help reduce or defer inheritance tax, but they do not automatically eliminate liability. Tax treatment depends on the trust’s structure and how long the assets have been held within it.
Certain trusts, such as discretionary trusts, are subject to a periodic inheritance tax charge every ten years. This charge is usually up to 6% of the value of assets exceeding the inheritance tax threshold.
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