Trusts provide a valuable way to protect the assets you have accumulated for the benefit of others.
Trusts are great ways of holding and managing assets for people who may not be old enough, ready, or able enough to manage finances for themselves.
We have numerous Trusts to suit all circumstances to ensure that your hard-earned property, money and business pass to those you wish to inherit.
Contact Legal & Contract Services Ltd today to find out which Trusts suit your needs.
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When it comes to planning for your family’s future, we listen to your needs and advise the best options for your personal circumstances. We look after tomorrow, today.
Trusts are a way of holding and managing assets for people who may not be old enough, ready, or able enough to manage for themselves.
There are various reasons why Trusts may be created and several different Trusts which can be tailored to suit your needs. Many individuals avoid Trusts as they believe it is a way of avoiding tax for the super-wealthy. This is a completely mistaken belief. Trusts are effective ways to control the assets you have accumulated and allow you to filter the ways you would like your assets to be passed to the beneficiaries.
Trusts can be a complex area of law and LCS are equipped with the knowledge and experience to guide and advise you on the best options.
Some of the Trusts we specialise in are:
Minor Beneficiary Trust – is a Trust specifically set up for young people under the age of 18 who legally are unable to inherit.
Disabled/Vulnerable Beneficiary Discretionary Trust – for people who cannot manage their affairs because they are mentally incapable, irresponsible or vulnerable.
Property Trusts – an important Trust as they help protect a home for ongoing use after your death. As a property is usually the highest value asset you will ever own, it allows you to ensure that the proceeds go to the beneficiaries you intend them to.
Annuity Trusts – a great way to ensure your financial obligations and commitments are continued after your passing, such as maintaining children or sponsorships.
Incentivising Trusts – an excellent way of incentivising young people to work for their inheritance.
Protective Trusts – a bespoke Trust which allows for special considerations that need to be included within a Will.
Business Trusts – a way of ensuring continuity of your business following your death.
Trusts offer a means of holding and managing money or property for people who may not be ready or able to manage it for themselves. Trusts can protect your assets such as your home. They can help ensure that your assets are passed on in accordance with your wishes after you die.
Trustees should be appointed to legally manage and administer the Trust in accordance with the wishes of the person creating the Trust.
A Trust can either be set up by you during your lifetime (APT) or by your Trustees after your death and in accordance with your Will.
Trustees are the ‘legal owners’ of any Trust property; they manage and distribute the Trust assets. There should be one or more Trustees.
Absolutely anything you own from cash, buildings, investments, antiques, businesses (Business Trusts) or other valuable property.