Trust Legal Services
in Harrow, London
At Ash Hill Solicitors, we are experienced in dealing with all legal aspects of wills, probate and asset management. If you’re thinking about setting up a trust, then talk to our friendly team of experts today.
What Is A Trust?
Trusts (sometimes called settlements) are arrangements whereby assets are managed by one party for the benefit of others. If you are a trustee or beneficiary, our specialist trust administration team can advise on your rights and obligations under existing trusts. We can also act as trustees or executors if needed.
As Wills, Probate and Trust solicitors based in Harrow we can explain your options and the process involved in setting up a trust.
If you are considering setting up a family trust, it is important to know your options and to be guided by a Wills, Probate and Trust solicitor to choose the most appropriate type of trust that suits your personal circumstances.
What is the Process of Setting Up a Trust?
Setting up a trust is a precise process that needs to be carefully worded and checked by a Wills, Probate and Trust Solicitor for any legal loopholes.
There are three key roles within a trust - the settlor, the trustees, and the beneficiaries.
1. The settlor
The settlor is the person who establishes and puts assets into the trust. Settlors are usually individuals or couples.
2. The trustees
The trustees are the people who control and oversee the trust. Anybody can act as a trustee if they are over 18 and have full mental capacity. Often the settlor will act as a trustee to keep an element of control over the trust.
3. The beneficiaries
The beneficiary of the trust benefits from the arrangement. For example, they may receive money from the trust or the right to occupy a property. Certain trusts give the trustees discretion over how and when these benefits are given to beneficiaries.
As expert trust lawyers in Harrow we can guide you to selecting the type of trust most suited to your circumstances.
Are Trusts subject to Income Tax?
Different types of trust are subject to Income Tax, Capital Gains Tax and Inheritance Tax in different ways. The rates and allowances vary according to the type of trust and how the beneficiaries stand to benefit from it. Here is a link to government website setting out details about tax implications of trusts: https://www.gov.uk/trusts-taxes
Under certain circumstances a trust must be registered with the HMRC. Our expert Wills, Probate and Trust lawyers can explain the process to you.
How Can You Pass on Your Assets Effectively?
You may want to keep an element of control when passing on your assets. You may also want your money to be used for a particular reason, such as paying for private school fees, for your children’s wedding or deposit for their first home. Or you may just want to make sure your money stays within your family. As Wills, Trust and Probate lawyers we can give you advice to ensure your money ends up with the people you want, for the reasons you choose.
Our services cover the advice required to navigate your assets and also assist those who wish to use a portion of their assets to help others who have been less fortunate.
How can we help you?
If you have the responsibility of managing and protecting substantial personal and family wealth you will know it is a time-consuming and complex task; and even more so if that wealth is linked to personally owned or family businesses. You will need expert advice to protect these assets.
Whether you have created the wealth yourself or it has come to you from past generations, your role will require assistance from an expert Wills, Probate and Trust solicitor who understands core principles underlying wealth generation and conservation.
Ash Hill Trust Solicitors based in Harrow are experienced in dealing with all legal aspects of wills, probate, and asset management. If you’re thinking about setting up a trust and need a solicitor near you then talk to our friendly team of experts today.
As Trust solicitors based in Harrow, London we can make sure your money ends up with the people you want, for the reasons you choose.
What are the Benefits of a Trust?
- Plan ahead for your family’s future needs
- Protect assets for younger generations, including those yet to be born
- Preserve family wealth in the event of bankruptcy, divorce or incapacity
- Safeguard against inheritance, capital gains and income tax
- Manage long-term asset protection and estate planning
- Postpone an inheritance until beneficiaries attain a suitable age
- Keep control over family wealth after making gifts and even after death
We provide hospital and home visits for many of our clients within the following areas: Rayners Lane, Harrow, South Harrow, North Harrow, West Harrow, Harrow on the Hill, Kenton, Pinner, Northwood, Eastcote, Ruislip, Kingsbury, Queensbury, Edgware, Wembley and surrounding areas. Our office is based in the heart of North Harrow, just a few minutes’ walk from North Harrow underground station. If you are looking for a solicitor near you then you should call us today.
Please do not hesitate to contact us for an informal free chat.
Ash Hill Harrow Solicitors in London – Supporting you every step of the way
BOOK FREE 20 MINUTE CONSULTATION
Address
Harrow Business Centre
429-433 Pinner Road
North Harrow
Harrow
HA1 4HN
Ash Hill Solicitors is the trading name of Ash Hill Solicitors Ltd, which is a company limited by shares and registered in England and Wales with number 13281665.