There is no “one size fits all” when it comes to trusts, and it is essential that you seek expert advice before deciding whether a trust is right for you.
Trusts are mainly used as a protective structure through which to pass family wealth down through the generations. They enable young or vulnerable family members to benefit from gifts of assets while the donor or another trusted person retains control and responsibility for managing the assets, thereby minimising the risk of family wealth dissipating through mismanagement, divorce or other circumstances.
Trusts can also be effective in tax planning, whether on death through a Will or during lifetime.
At Gordons we have significant expertise and experience in all aspects of trusts, from creation to distribution, and including acting as trustees. We also have a specialist Contentious Trust and Probate team dealing with disputes in relation to trusts and estates. To discuss your options, or just to learn more about trusts and whether they might be suitable for you, please get in touch. We are happy to give initial advice over the telephone (0113 227 0298) or by email, free of charge.
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