Trusts can assist with wealth preservation, mitigating inheritance tax, business or farm succession and protecting general beneficairies.
Trusts themselves can be relatively simple and yet the legal and tax issues on both creation and subsequent operation of a trust can be complicated with heavy financial penalties if done incorrectly which is why taking specialist advice is essential.
At Clark Willis, our specialist solicitors have a wealth of experience in creating and assisting in the ongoing administration of trusts and offer a number of services to assist with trusts including:
- Drafting trusts
- Advice about trust operation
- Acting as trustee
- Registering a trust with HMRC
Trust law, and the reporting requirements that go with it, are complex and trustees are often unaware of or struggle to manage, all of their duties. This means that trustees could face financial claims from beneficiaries or penalties from HMRC.
We can help trustees with:
- Drafting documentation such as Resolutions & Deeds of Appointment for new Trustees.
- Winding up a trust.
- Preparation of trust accounts.
- Working with accountants for trust tax returns.
- Working with Financial Advisers for Trustee Investment strategies.
Clark Willis can support Trustees with a “pay as you go” advice service through to full, annual management services.
“Absolutely fantastic service throughout. Friendly and efficient staff and would recommend over and over again for all Law requirements.”
Mrs W, Darlington