Talk to one of our advisers

01502 533000

Beccles

01502 718700

Gorleston

01493 652204

Great Yarmouth

01493 849200

Halesworth

01986 872513

Lowestoft

01502 533000

Norwich

01603 510904

Trusts

A Trust is a legal arrangement whereby one party holds money and property for the benefit of another. The setting up of a Trust within a Will or during your lifetime can assist with:

  • assets passing into the estate of a beneficiary and adding to their Inheritance Tax liability
  • money being frittered away by those who cannot control money well
  • money being taken into consideration in a divorce
  • money being taken into account in respect of means tested benefits
  • money being protected for minors until they reach an appropriate age
  • money being taken into account for care home fees

There are a number of different types of trust all of which have their own advantages and disadvantages in terms of how they work and the tax implications. Because of this it is important that we meet with you to discuss your specific needs.

Once a Trust has been set up, in order to be successful, it has to be managed and we are able to provide the necessary support to enable this to happen. We can advise on:

  • Trustees duties and powers and the requirements of the Trustee Act 2000
  • Putting you in contact with an IFA who we know can advise on Trust Investments
  • Advice on Tax affairs and completion of tax returns for the trust
  • Assisting with the preparation of trust accounts
  • Arranging meetings of the Trustees on a yearly basis and the completion of minutes of these meetings in order to comply with the Trustee Act 2000
  • Dealing with the distribution of income and capital together with the required Deeds of Assignment/Appointment
  • Dealing with the retirement of Trustees and the appointment of new Trustees.

Please contact a member of our Private Client Team who will be happy to advise you in more detail on these matters in accordance with your own individual needs.

 

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  • Get Direction
    Address:
    148 London Road North
    Lowestoft
    Suffolk
    NR32 1HF

    Tel: 01502 533000
    Fax: 01502 533001
    DX: 41200 LOWESTOFT
    Email: enquire.lowestoft@nortonpeskett.co.uk
    Hours: Mon - Fri 09:00 - 17:00, Sat 09:00 - 12:30
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    Address:
    18 Church Plain
    Great Yarmouth
    NR30 1NF

    Tel: 01493 849200
    Fax: 01493 849201
    DX: 745240 GREAT YARMOUTH 5
    Email: enquire.yarmouth@nortonpeskett.co.uk
    Hours: Mon - Fri 09:00 - 17:00
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    Address:
    Exchange Square
    Beccles
    Suffolk
    NR34 9HP

    Tel: 01502 718700
    Fax: 01502 718709
    DX: 51450 BECCLES
    Email: enquire.beccles@nortonpeskett.co.uk
    Hours: Mon - Fri 0900 - 13:00, 14:00 - 17:00
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    Address:
    Old Bank House
    66a Bells Road
    Gorleston
    Norfolk
    NR31 6AF

    Tel: 01493 652204
    Fax: 01493 653462
    DX: 41050 GORLESTON
    Email: enquire.gorleston@nortonpeskett.co.uk
    Hours: Mon - Fri, 09:00 - 17:00
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    Address:
    52 Thoroughfare
    Halesworth
    Suffolk
    IP19 8AR

    Tel: 01986 872513
    Fax: 01986 875484
    DX: 51202 HALESWORTH
    Email: enquire.halesworth@nortonpeskett.co.uk
    Hours: Mon - Fri 09:00 - 13:00, 14:00 - 17:00
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    Address:
    23 Cathedral Street
    Norwich
    Norfolk
    NR1 1LU

    Tel: 01603 510904
    DX: 5202 NORWICH
    Email: enquire.norwich@nortonpeskett.co.uk
    Hours: Mon - Fri 09:00 - 12:30, 13:30 - 17:00
Norton Peskett Solicitors