A Family Trust is a legal arrangement that allows you to hold assets, such as property, investments, or cash, on behalf of your family. The assets in the trust are managed by trustees, and the trust is structured in such a way that it provides benefits to your family members.

The Family Trust will be mentioned in the Will but will not be fully populated until the death of the settlor. By placing the Family Trust outside of the Will, multiple Discretionary Trusts can be established through the Will, but at different times, to take advantage of the Rysaffe principle. The assets within a Family Trust are safeguarded from negative impacts such as beneficiary remarriage, divorce, creditor claims, means testing for disabled beneficiaries, care fees, and inheritance tax (IHT). Depending on the situation, multiple Family Trusts may be necessary for maximum tax efficiency, and each Trust should receive an amount less than the IHT Nil Rate Band.

Our service provides comprehensive advice on setting up a family trust that is tailored to meet your specific needs. We work with you to understand your goals for the trust, the assets you wish to include, and the beneficiaries you want to benefit. We then provide guidance on the best type of trust for your situation and assist with the preparation of the necessary legal documents.

We understand that setting up a family trust can be a complex process, and we are here to help simplify the process for you. Our team of experts have extensive experience in estate planning and are equipped to handle all the details, including registering the trust, transferring assets into it, and appointing trustees.