We can advise you on the creation, administration and termination of Trusts. We can provide advice whether you are the Settlor (the person creating the Trust), a Trustee or a beneficiary. If there are disagreeements about the Trust our specialist litigation Solicitor will be able to provide detailed advice.
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Can’t speak highly enough about the staff efficiency- friendliness- and how professional they are. Would absolutely recommend to others.
With over 800 positive reviews, we’re ranked first for wills, trust and probate services locally and nationally (when compared to 1,201 competing law firms).
Our team of trust lawyers are exceptional at their craft, offering both superior service and excellent value for money. We never overcharge our clients, yet we don’t offer “cheap” services either. Instead, we offer fairly priced, fixed fee legal support to anyone that needs to manage their estate, now and in the future.
We can offer advice on every aspect of trust law, including:
Which trust type is right for you and your intended purposes
How to use trusts as part of a tax planning exercise
Appointing trustees to manage assets per your instruction
Choosing beneficiaries to receive income and inherit assets
Outlining instructions for trustees as the trust’s settlor
Altering and dissolving trusts if your situation has changed.
So, trust us to take care of your complex estate and rest easy knowing your assets will be managed under your instruction by a person or company chosen by you.
A trust is a legal device set up while you are alive to protect your assets. They can be used to minimise the Inheritance Tax paid on your death or to ensure that someone is protected. All types of assets can be placed in a trust, such as land, personal property, financial assets and life insurance.
As the Settlor of the trust (the person establishing the trust), you’ll decide who will manage the trust on your behalf (the trustees) and those who will benefit from it (the beneficiaries). The trustee(s) manage all financial activity and assets in the trust but can only do so in the way laid out in the Trust document. When creating a trust, you may outline how beneficiaries should access assets and receive financial support. For example, you may limit younger beneficiaries’ access until they reach a certain age. Trusts give settlors an incredible sense of control over their wealth and peace of mind around how their assets will be distributed after passing.
Trust creation has many benefits, especially for business owners, those with large estates and those who have children from previous relationships.
Will trusts are designed to protect your wishes after your death and can be used for a number of reasons including helping to fund the future generation’s education, or support chosen charities.
Trusts may mitigate tax in a number of ways and are often suggested by solicitors as part of the tax planning process.
Trust lawyers can create various types of trusts, including trusts in your Will that are applicable after death. You may be referred to trust law solicitors or introduced to a trust specialist as part of a tax planning service. At Lockings, we have teams of tax and estate planners, as well as trust lawyers, to assist your every need.
Although it is possible to set up a trust independently, it is better to instruct a solicitor to do the hard work for you A solicitor is trained to review complex trust terms, remove ambiguous wording consider all the tax implications and comply with changing trust laws to ensure the validity of this important legal agreement.
If you are a customer of Lockings Solicitors and we have contracted with you online you may be entitled to use the EU Online Dispute Resolution (ODR) Platform to assist in resolving any dispute with us. This service can be found at https://ec.europa.eu/odr.
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Lockings Solicitors is a trading name of Lockings Legal Services Limited registered in England and Wales company registration number 09244568. Lockings Legal Services Limited is authorised and regulated by the Solicitors Regulation Authority (Main Office SRA ID number 626081). A list of our directors is available for inspection at all our offices. Use the following link https://www.sra.org.uk/solicitors/standards-regulations/
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