Trusts Solicitors

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Trusts can play a key role in planning for the future, particularly when you’re looking to make informed and proactive decisions about managing and protecting your assets. Safeguarding wealth and supporting loved ones are key concerns for many of our Wills, Probate and Estate Planning clients. As such, our trusts solicitors are experts at setting up trusts, advising trustees, handling disputes, and closing trusts when the time is right.

Levi Solicitors are highly experienced in all aspects of trusts management for individuals and families from all backgrounds. We recognise that the subject of trusts can feel daunting, so we provide clear, practical advice tailored to your personal goals and the outcomes you wish to see.

Our trusts law solicitors can guide you through resolving your trusts needs and advise you, no matter how experienced you are with trusts. Our expertise includes:

Setting up a trust
Advice for trustees
Ending a trust
Amending a trust
Trust disputes

Contact our trusts solicitors in Leeds and London

If you would like advice on trusts, call us at 0800 988 7756, or contact us by using the simple enquiry form on this page. We have trust solicitors in Leeds, Moortown and London who are ready to provide insightful, effective advice.

How can we help?

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Why choose our trusts solicitors?

Our trusts solicitors will work hard to ensure that your use of a trust is legally sound and financially advantageous. We have years of experience with advising clients on all aspects of trusts management, providing practical advice and guidance on the set-up and management of trusts.

We will use our wealth of knowledge to ensure you benefit fully from your trust arrangement, helping trustees to fulfil their obligations and thrive in their role, and beneficiaries to know with certainty that they are getting what is due to them. For each client, we are fully committed to their individual needs and finding tailored solutions.

Within our team, we have members of STEP (the Society of Trust and Estate Practitioners) and accredited members of The Association of Lifetime Lawyers. All of our team are Dementia Friends and value the comfort and dignity of our older clients.

Our trust services

Setting up a trust

Setting up a trust allows individuals to protect and manage assets for the benefit of others, whether they are vulnerable individuals, dependents, children, or other decedents. Trusts can play a key role in estate planning, reducing tax liabilities, and safeguarding wealth. It’s crucial to choose the right type of trust to ensure that your wishes are carried out correctly.

Levi’s lawyers for trusts can help you to understand the different trust types available to you and guide you through the stages of setting the trust up, including drafting the trust deed and ensuring it complies with legal and tax requirements. With our experienced trusts law solicitors, you can rest assured that your trust is structured to meet your long-term goals.

Advice for trustees

Trustees play a key role in the management of assets and preserving the interests of beneficiaries. However, trustee responsibilities can be complicated and specific, involving strict legal, financial, and administrative expectations.

Failure to meet these duties can lead to you being held personally liable, and regulations are strict. A trusts lawyer can provide ongoing advice for trustees, advising on obligations and compliance with trust law and tax rules, recordkeeping, making distributions, and managing investments.

Ending a trust

Trusts are typically designed to run for many years, but the time may come for them to be ended. Perhaps this is because the terms of the trust have been fulfilled, the beneficiaries have reached a set age, or the trust is no longer needed. Ending a trust has to be done carefully to ensure that all distributions are properly performed.

Levi’s trusts and estates lawyers can guide you through the correct legal process to close a trust and wind up any remaining obligations, whether that involves the transfer of assets, preparing tax returns, or managing the trust closure directly.

Trusts disputes

Unfortunately, trusts and how they are being managed is quite a common source of dispute, primarily between trustees, co-trustees, and beneficiaries. Alleged breaches of trustee responsibility, disagreements over the interpretation of a trust deed, and concerns about asset management can all lead to differences of opinion.

Our trusts disputes solicitors can advise on resolving these disputes and provide negotiation, mediation, and court guidance where necessary to reach a solution. With the support of our trusts law solicitors, you can rest assured that we will help you reach a practical solution, minimising conflict and protecting the interests of you and the trust.

Frequently asked questions about trusts

What is a trust and how does it work in the UK?

A trust is a legal arrangement where one or more people, known as the trustees, are able to manage assets on behalf of others, known as the beneficiaries. In the UK, trusts are most frequently used for estate planning, safeguarding family wealth, and managing assets for those who would not be able to do so for themselves.

A trusts lawyer is a professional who can advise you on the most advantageous way to use a trust to benefit your circumstances, as well as their correct setup and arrangement.

How long does it take to set up a trust?

Setting up a trust can be a relatively straightforward task, needing just a few weeks before all documents and decisions are finalised. More complex arrangements, such as those involving tax planning or property, can take longer. Our expert trusts and estates lawyers can help streamline the process for you.

How much does it cost to set up a trust?

The cost of setting up a trust will depend on the complexity of your needs, the value of the assets involved, and whether you require ongoing legal advice. A basic trust can be relatively inexpensive, whilst trusts involving property or significant estates may need higher investments. Levi’s lawyers for trusts can help you to understand the financial commitment that you are facing and ensure that setting a trust up is the best way to meet your long-term needs.

How can a trusts solicitor assist in creating a trust?

A trusts administration lawyer provides key holistic support for establishing a trust tailored to your life goals. This can include finding the right kind of trust, drafting your trust deed, explaining trustee responsibilities, and ensuring full compliance with UK law and tax rules while keeping the process clear and straightforward.

What are the legal responsibilities and duties of a trustee?

Trustee responsibilities are strictly upheld by governing bodies and legal authorities. A trustee absolutely must act in the best interests of the trust’s beneficiaries, manage assets correctly, keep accurate and detailed records, and follow the terms laid out in the trust deed.

Trustees are also required to ensure that they and the trust are fully compliant with tax obligations, potentially leaving them personally liable if they fail to fulfil their duties. Your trusts lawyer can advise on new and existing trustees alike on their obligations, helping you to fulfil them and remain fully compliant with the trust.

Can a trust be used to protect assets from future care costs?

In some cases, trusts can be useful for safeguarding assets from future care fees. However, this can be highly scrutinised and subject to strict regulation, with local authorities able to challenge trusts that appear to deliberately obscure assets. Advice from specialist lawyers can ensure that your financial planning is lawful and appropriate.

Is it possible to modify or terminate a trust once it's established?

It is sometimes possible to amend or terminate a trust, but it will depend on the terms written in the trust deed. For example, some discretionary trusts allow for more flexibility, whilst others are more restrictive and fixed.

A trusts and estates lawyer can advise you on your responsibilities as a trustee by carefully reviewing the wording of your trust terms and advising on whether there are any modifications that could be made to your benefit, such as adding or removing beneficiaries.

How can a trust be used to hold or transfer property?

Trusts can be used to hold property as part of estate planning during a person’s lifetime. This can ensure that the property value is protected for children or other vulnerable beneficiaries, and can also enable trusted individuals to manage them as assets.

A lawyer for trusts will ensure that the necessary legal documentation is completed for the proper transfer of the property into the trust, ensuring compliance with HM Land Registry and tax obligations.

What are the tax implications for beneficiaries receiving distributions from a trust?

When beneficiaries receive income or assets from a trust, there may be tax consequences. These will depend on the type of trust and the individual’s personal tax situation.

Income is likely to be subject to standard Income Tax, whilst capital distributions could be subject to Inheritance Tax or Capital Gains Tax. A trusts administration lawyer can provide straightforward guidance on how and where these rules apply, helping trustees to manage distributions in tax-efficient ways.

Contact our trusts solicitors in Leeds and London

If you would like advice on trusts , call us at 0800 988 7756, or contact us by using the simple enquiry form on this page. We have trust solicitors in Leeds, Moortown and London who are ready to provide insightful, effective advice.