Trusts – Set Up & Manage

Protect your financial assets. Take care of your loved ones. Provide for future generations. With help from our experienced Trust Solicitors, you can ensure all your final wishes are fulfilled.

Need some expert advice about Trusts? Get in touch or call 0191 5666 500 for a chat & discover how we can help.

Worried about potential future care home fees? Concerned about Inheritance Tax? Want to make sure a loved one is financially secure for the future? Need to reduce the size of your Estate?

We know how important it is for you to protect your family wealth for future generations. And we understand the comfort that having all of your affairs in order can bring.

No matter what your family situation may be, we can provide you with extensive knowledge of Trust law, Tax, investments and accounts – and support you with any aspects of setting up a Trust.

Monitored by the Solicitors Regulation Authority, we are members of the Society of Trust and Estate Practitioners (STEP) and Full Accredited Members of The Association of Lifetime Lawyers (previously known as Solicitors for the Elderly), recognising our expertise in supporting older and vulnerable people, as well as their families and carers.

Our Trust services:

  • Extensive experience of drafting and running Trusts
  • Help with Tax issues – Inheritance Tax, Trust Income & Capital Gains Tax
  • Advise on the appropriate use of Trusts for particular situations
  • Advise on existing Trusts and duties of the Trustees

After discussing and listening to your wishes, we will draft the most appropriate Trust to accurately reflect your intentions, clearly and without ambiguity.

To discuss anything relating to Trusts, call 0191 5666500 to make an appointment or contact us to request a call back. If you cannot come to our office for a chat, a home visit can be arranged.

What type of Trusts are there?

Depending on how you want to control your assets, there are different Trusts that can be set up.

Below is a brief overview of some popular options you may wish to explore.

Personal Injury/Compensation Protection Trusts

When a person has had a successful Personal Injury claim, they need to make sure the money is protected and used to compensate them during their lifetime. In most cases, State-issued Benefits start to reduce when a person has £6,000 or more in savings – and nearly all Benefits are stopped if they own more than £16,000. By placing capital in a Personal Injury Trust fund, it cannot be used by the Government to reduce the amount of Benefits a person may be entitled to.

A Discretionary Family Trust

Created for individuals who want to try and safeguard their assets including, potentially, their property.  A Trust of this nature can be established for a number of reasons, i.e. Care Fees or Inheritance Tax etc.

A Vulnerable Person’s Trust

An ideal way to safeguard a vulnerable person’s future security and ring-fence assets, allowing the Beneficiary to continue claiming any means-tested Benefits, which would not be affected. A Vulnerable Person’s Trust can also protect potentially vulnerable people from financial abuse or being exploited by others. This could be particularly invaluable if the person is unable to manage their assets of money for themselves.

Our relaxed & friendly approach to Trusts

If you would like to try and ensure that your assets pass safely from one generation to the next, we can help to achieve it in the most Tax-efficient manner.

To ensure you only create a Trust when it is absolutely necessary, we would recommend speaking to our experienced team of Trust Solicitors.

We know Trusts are an extremely important document, which must be correctly drafted, but we do not believe the process should feel too stuffy. We like to keep things professional but informal. Like having a chat with your friend.

By adopting this relaxed and friendly approach, it is much easier for our experienced Trust Solicitors to explain any intricacies.

We will hold your hand and guide you through the Trust drafting process, until you feel 100% comfortable with the final version. And any information you tell us will be kept in the strictest confidence.

To arrange an appointment and discuss your affairs, call 0191 5666500 or contact us to request a call back.

How much does a Trust cost?

We understand that costs are always an important consideration when setting up a Trust.

But because all Trusts are different, and the work involved in setting it up and administering it will vary, it is not possible to give an accurate quote without full details.

If the Trust is straightforward, we may propose a fixed charge. Where the Trust is more complex, our costs will be calculated by reference to the time we spend on the matter.

Before you commit to using our services, we will provide an estimate of charges and you can see details about how our charges are calculated and approximate timescales, so you are able to make an informed decision.

To discuss your financial situation in confidence, call 0191 5666500 and speak to our friendly experts or contact us to request a call back.

HMRC Trust Registration Service & Our Clients

In accordance with new laws implemented under the Fifth Money Laundering Directive on 6th October 2020, we will not be acting as Agent of Lay Trustees in the registration of applicable Trusts.

Having considered the matter carefully, Longden, Walker & Renney (as a Firm) will not be acting as Agent of Lay Trustees in the registration of applicable Trusts.  We, of course, will have to register those Trusts of which we are Professional Trustees.  Having undertaken significant due diligence, undertaken a risk assessment and having looked into the matter with the Firm’s professional insurers, it is considered too high risk for us to act as Agent of Lay Trustees.

We are required to inform our Clients of the new Regulations. However, due to GDPR we cannot rely on the data we hold for Lay Trustees (their addresses etc) being current/correct and cannot therefore attempt contact via the likes of a Mail Drop.  Therefore we give “Notice” of our position on this website. Any relevant current Clients will be informed as we become aware of the potential need for them to register their Trust.”

For full details of this decision, click here to read more.

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