Trust Administration

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Trust Administration - Securing Your Legacy

Trusts are powerful legal tools that offer flexibility and control when managing and protecting your assets. Whether you’re planning for future generations, safeguarding family wealth, or addressing specific financial needs, trusts can be a vital part of your estate planning strategy. At WT Solicitors, we specialise in the creation and administration of trusts, helping to ensure that your assets are managed effectively and in line with your wishes.

What Are Trusts?

A trust is a legal arrangement where you (the “settlor”) transfer assets to a trustee, who manages them for the benefit of your chosen beneficiaries. Trusts can hold various types of assets, including property, investments, and cash. They are highly versatile and can serve a range of purposes, including:

Inheritance Planning: Protecting assets for future generations and reducing inheritance tax liabilities.

Asset Protection: Shielding assets from creditors, divorce settlements, or business risks.

Careful Wealth Distribution: Ensuring vulnerable beneficiaries, such as minors or individuals with disabilities, are supported appropriately.

Charitable Giving: Establishing long-term funds for charitable causes.

Why Choose Us?

Trusts provide a secure way to protect your wealth and support your loved ones, but managing them can require professional expertise which is where we can help.

At WT Solicitors, we are committed to guiding you through every step, from setting up a trust to ongoing administration.

We support the trustees with ongoing trust management so that they comply with the terms of the trust, avoiding costly mistakes and ensuring the assets are protected.

Personalised Service

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Clarity, Empathy & Transparency

Expert Professional Guidance

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Making Your Plans Future Ready

Benefits of Trusts

01Asset Protection

Trusts can safeguard your wealth from creditors, legal disputes, and mismanagement, ensuring it is preserved for your intended beneficiaries.

02Control and Flexibility

Trusts allow you to set specific terms for how and when assets are distributed, such as age milestones or life events, promoting responsible use by beneficiaries.

03Avoiding Probate

Assets held in a trust bypass the probate process, ensuring faster distribution to beneficiaries and reducing administrative burdens.

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How We Help

We provide comprehensive trust creation and administration services to ensure peace of mind for you and your beneficiaries. Our process includes:

Tailored Advice: We’ll help you choose the right type of trust for your needs, whether it’s a discretionary trust, bare trust, or other arrangement.
Drafting Trust Deeds: We create valid and enforceable documents that clearly define the trust’s purpose and terms.
Ongoing Administration: Our experts assist trustees with their duties, from managing assets to ensuring compliance with UK trust regulations.

Ongoing Administration

Once a trust is created, proper administration is essential to ensure it operates legally and effectively. Trustees have significant responsibilities which our trust team are here to guide them through. Without proper administration, the trustees can face legal challenges, tax penalties, or disputes among beneficiaries. We will:

Support trustees with their duties: Trustees have a fiduciary duty to act in the best interests of the beneficiaries. We will provide the trustees with the support they need for them to actively manage the trusts.

Support trustees with asset management and protection: By signing up for trust administration, we will support trustees with overseeing trust assets, maintaining records to help ensure the trust’s assets are safeguarded.

Support trustees with documentation: Through accurate record keeping, trustees can protect themselves and the validity of the trust by proving that they have managed the trust to the best of their ability. We will advise trustees of their legal obligations when managing a trust and support them in doing so.

Support trustees with meeting filing deadlines: Trustees are responsible for filing and keeping updated certain trust information on HMRC’s Trust Registration Service. We will arrange those updates for you.

Testimonial

“Due to a house move I had to complete a trust registration process with HMRC which I am afraid I found a difficult and tedious task in the middle of a house move and my husband’s knee operation. I have to admit that I was therefore not the easiest person for Bethanie to have to manage but she did, and superbly. I commend her for reminding me from time to time that I needed to complete the process and during it all she patiently explained everything and offered help at every turn – even following my rather abrupt email rant. Fortunately the job is done thanks to her.“

Mrs Jones, Oxford

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