Trusts

What are will trusts?

A will trust is something you set up to benefit the people you want to pass on money or possessions to. After your death it will come into effect and the trustees who you have named, are given control over the assets covered by the trust. They must manage the trust on behalf of the beneficiaries of the trust. You can be specific about how much each person gets and when, or you can allow the trustees to decide; it is common to leave a letter of wishes to indicate your thoughts.

What can a will trust be used for?

They can be used in a range of ways, however common uses for trusts include:

• paying for your children or grandchildren’s future education
• providing resources specifically to care for loved ones who are vulnerable in some way
• leaving money or a house to support your spouse from a second marriage while they are still alive, but ensuring that those assets will then go to children from the first marriage after the second spouse has died.

Setting up a trust

Our trusts specialists, including lawyers and tax accountants, can help you use and manage trusts effectively and stay the right side of the regulations. At the outset, we'll help you decide what type of trust is right for you. We have particular expertise in the creation of:

• inheritance planning trusts
• discretionary trusts
• charitable trusts
• personal injury trusts
• declarations of trust for a property.

Our trust service

We know that trusts can be difficult and daunting. So our job is to make the process as simple for you as possible. Our services cover:

• setting up a trust to do exactly what you need it to do
• taking care of the trustees, setting up their appointment and making sure they get clear, tailored advice on how to fulfil their duties under the trust, for example, staying on top of a shifting legal and taxation landscape.
• acting as professional trustees

• managing the tax liability efficiently

• tax submissions are completed on time and accurately
• tax efficient ways of making trust distributions 
• day-to-day administration
• managing trustees
• winding-up a trust. 

Tees also offers independent financial advice and our wealth management colleagues can offer you a seamless service with investment advice, to ensure all your trust affairs are managed efficiently.

We’re here to help

Call us for a confidential, no obligation chat, or fill out our enquiry form and we will let you know how we can help. We can also visit you at your home if you wish.

Our specialist teams are based in:

• Cambridgeshire: Cambridge
• Essex: Brentwood, Chelmsford, and Saffron Walden
• Hertfordshire: Bishop's Stortford and Royston 

But we can help you wherever you are in England and Wales.

Call our specialist Will solicitors on 0808 231 1320