A trust is an obligation binding a trustee (which can be an individual or a company) to deal with assets – such as land, money, shares or even antiques – for the benefit of one or more ‘beneficiaries’. The people who run the trust, and in certain circumstances make decisions about how the assets in the trust are to be used, are known as ‘trustees’. Trustees carry out the wishes of the person who has put assets into the trust. This person is known as the ‘settlor’. The settlor’s intentions for the trust are usually expressed in a legal document called a ‘trust deed’ or in their will.
It is a complex area of law that is only dealt with by specialists. Maria Lonergan is such a specialist and can be contacted for more information as to how trusts can be used to assist you particularly in connection with your lifetime planning in anticipation of preparing a will , avoiding home fees or for example preparing so as to avoid inheritance tax
Maria can be contacted on (01484) 714400. She is based at our Brighouse office . Alternatively you can e-mail her on firstname.lastname@example.org