Our trust fund and trust management solicitors have extensive knowledge of the different trust structures which are available and we have practical experience of what makes them work best in practice. In the creation of trusts, we are able to fine tune trust structures so that they can be entirely flexible or very rigid and every shade of grey in-between.
We have our own dedicated trust administration team administering on a daily basis over 250 active trusts on behalf of clients, from dealing with the trust accounting, annual tax returns to the practical administration of the trust and allocation of income and other distributions.
In many cases, we are asked to deal with trusts created by other firms of solicitors where the trust appears to have outlived its shelf life. We are able to provide constructive advice as to whether the trust can be adapted to make it more useful to the family going forward, or if not, to advise on the mechanism for dismantling the trust in a way which is consistent with the spirit of the trust and minimising the tax consequences.