Trusts

A Trust is a way of ensuring your assets are ‘looked after’ for someone else, until a time that you dictate.

There are different types of Trust and what you might need will depend on your circumstances.

Imagine a locked box containing your life savings. No-one can access it until they have the key. You are essentially choosing when they get the key. 

They can be used to ‘hold’ assets until your children are older, when you feel that they might have more financial responsibility and make better decisions about what to do with the money/property. 

They can also be used to provide a level of control over what the assets can be used for – for example, used to pay for education, or a deposit on a house, not a luxury holiday and a Porsche. 

A trust might also be used when family circumstances are complicated.

You might want your home to pass onto your children, but still want your spouse to be able to live there whilst they are alive.

A Trust can be set up to enable this to happen. 

There can be many complexities with Trusts which is why a conversation about your circumstances and concerns is best.

There are rules and regulations that must be adhered to, and they need to be managed, and this is something that we can do.

We ensure that your Trust is registered and all the necessary information is kept up-to-date and accurate.

A Trust can be used to make sure that property and/or money is given to the right person at a time you choose. Some reasons you might choose a Trust are:

• To hold assets until someone reaches an age that they can responsibly manage them themselves
• To help with tax planning 
• To add protection to assets

There are different types of Trust available depending on your needs.

Morrell Will Services can offer information, guidance and advice on all of these, we can also refer to trusted specialist partners where needed.

Pricing

Trust Registration Service administration

£75 (per meeting)