Today the Government have announced there will be new legislation in divorce law. This new law will update the Matrimonial Causes Act 1973 in due course. It will mean that, in the future when the legislation comes into force, divorcing couples will no longer have to ‘blame’ each other for the breakdown of their marriage. It is hoped the new law will help reduce family conflict.
Creating a trust during your lifetime, or by way of your Will, can enable you to safeguard your assets and control their distribution over time.
This can be especially useful for succession planning, reducing your Inheritance Tax liability, protecting your business and balancing your obligations to different members of your family, particularly if you have been through a divorce.
Our team of respected legal specialists will assess your particular circumstances and advise on the best type of trust to meet your needs. We can also help with the day to day administration of the trust, including dealing with tax returns and preparing trust accounts.
Whether you are setting up a trust to protect your assets, to defer your children’s inheritance until a specific age or require help with a trust’s daily administration, we can offer clear, invaluable advice that has been tailored specifically to you and your requirements.
We also offer a full professional trustee service and work with trusted professional contacts in the accountancy, tax and financial advice fields to ensure our clients’ needs are well looked after.
Call 01242 574244 or contact us to find out how we can help with trust creation and administration.