Trusts

Trusts can be created in life, or on death through a Will. Trustees are appointed to look after the assets for chosen beneficiaries and must act according to the terms of the trust.

You can use a trust to:

  • Protect assets for the family.
  • Mitigate Inheritance Tax and Capital Gains Tax.
  • Ensure means-tested benefits continue.
  • Ring-fence compensation from personal injury claims.
  • Look after assets for younger beneficiaries, or for those who can’t manage money themselves.
  • Confirm your share of a property.
  • Circumvent the need to apply for a Grant of Representation (Probate or Letters of Administration) on death.

Trusts can be complex, and the tax rules associated with them change frequently. So it’s vital you seek professional advice before creating a trust or acting as a trustee.

Why choose Tollers?

Our highly experienced team regularly act for a wide range of trust including but not limited to;

  • Trusts relating to property ownership (Declarations of Trust).
  • Disabled persons trust.
  • Personal injury trusts.
  • Trusts for children.
  • Will trusts.
  • Asset protection trusts.
  • Discretionary trusts.
  • Charitable trusts.

Tollers are currently legal advisors to over 200 trusts and our Partners, Barry Rogers, Martin Hill and Jeremy Simmonds act as professional trustees on many of them. There are now many obligations placed on trustees, both to the beneficiaries of the trust and to Government departments such as HMRC and even to the American Inland Revenue Service. Tollers are able to guide trustees through the process of administering the trust ensuring compliance with all legal and regulatory provisions, while keeping at the forefront of considerations the purpose of the trust. We can tailor a package to suit your individual needs from advising you on the merits of a trust or advising a trustee about the extent of the role to creating and administering your trust as trustees. In some cases we are able to offer a fixed fee for the service you require and where this is not possible we will provide you with an estimate. We offer friendly and practical advice with a common sense approach. We have offices in Northampton, Milton Keynes, Corby, Kettering, Stevenage, Kempston, Oakham and Uppingham. We also offer home visits for a small additional charge.

How we can help

If you are thinking of ways to best provide for the future, we can:

  • Advise on when you might benefit from the use of a Trust.
  • Advise on the taxation and practical issues to consider.
  • Draft trust deeds and associated documents.
  • Arrange the transfer of your chosen property to the trust.
  • Help you to select appropriate trustees and can also act in the role for you should that be the best option for you.
  • Ensure that the trustees are aware of their legal and regulatory responsibilities.

If you are a Trustee, we can:

  • Ensure that you are compliant with all legal and regulatory matters, including but not limited to the Trust Register, the Foreign Account Tax Compliance Act, the Common Reporting Standard and the General Data Protection Regulation.
  • Ensure that you are complying with your duties as a Trustee and therefore not exposing yourself to personal liability.
  • Communicate with the beneficiaries in relation to the trust.
  • Carry out the required regulatory and identity checks on the beneficiaries.
  • Produce agendas for annual trustee meetings with key topics to discuss and where appropriate attend and lead those meetings, and circulate minutes of the same.
  • Produce trust accounts.
  • Ensure compliance with Inheritance Tax, Capital Gains Tax and Income Tax regimes.
  • Advise on the most Tax efficient way to meet the needs of the trust.
  • Advise on any proposed actions by the trust, such as loans or distributions from the trust and produce the relevant documentation (including trustee resolutions, loan agreements, charges and deeds).
  • Wind up the trust ensuring that accounts with HMRC and other organisations are closed and the liabilities of the trustees is at an end.

If you appoint Tollers to be your Trustees we will:

  • Ensure that your wishes for the trust are carried out in so far as they are legally and practically possible.
  • Ensure that the Trust is compliant with all legal and regulatory matters, including but not limited to the Trust Register, the Foreign Account Tax Compliance Act, the Common Reporting standard and the General Data Protection Regulation.
  • Carry out all of the required duties of trustees in relation to the trust.
  • Communicate with the beneficiaries in relation to the trust.
  • Carry out the required regulatory and identity checks on the beneficiaries.
  • Regularly review the trust, including the investments and needs of the beneficiaries.
  • Produce trust accounts.
  • Ensure compliance with Inheritance Tax, Capital Gains Tax and Income Tax regimes.
  • Tct in the most Tax efficient way to meet the needs of the trust.
  • Take action where required by the trust, such as making loans or distributions from the trust and produce the relevant documentation (including trustee resolutions, loan agreements, charges and deeds).
  • Wind up the trust ensuring that accounts with HMRC and other organisations are closed.

Talk to Tollers

At Tollers we understand that each trust is unique, there is no one size fits all approach and we are happy to discuss your particular needs. If you would like further information, please contact a member of our team. You will usually be allocated to a member of the team based on your location and the complexity of the estate in question but if you have a specific preference then please let us know when you get in touch and we will do our best to accommodate your request. Although you will have a dedicated specialist responsible for your matter they will be assisted by more junior members of the team.

For more information...

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Our Trusts Experts

Paul Bellière-Wilson
Senior Associate
Paul is a student member of the Society of Trust and Estate Practitioners (STEP) and part qualified in International Trust Management (ITM)...
Michael Christopher
Solicitor
Michael is a Solicitor based in the Biggleswade office, handling all aspects of Private Client Work, including Wills, Probate, Administration of Estates, Trusts, Lasting Powers of Attorney...
Layla Qureshi
Solicitor
Layla recently qualified as a solicitor (October 2019) having previously trained in a regional firm...
Susan Agnew
Chartered Legal Executive
James Willoughby
Solicitor
James attended BPP Law School where he studied for a Graduate Diploma in Law...
Steve Bowers
Will Writer
Steve Joined the Trusts and Estate team at Tollers in 2018. Before this, Steve worked in the Private Clients division of a major bank, where he had worked for the past 32 years...
Shireena Sheridan
Solicitor
Shireena studied Law at the University of Lincoln and undertook the Legal Practice Course at BPP Cambridge in 2015. Shireena qualified as a Solicitor in December 2018...
Sharon Brown
Senior Associate Solicitor
Sharon offers free monthly advice clinics at Age Concern Stevenage and Garden House Hospice...
Sarah Horn
Solicitor
Sarah has been a part of the Tollers team since June 2006 and is currently undertaking the Society of Trust and Estate Practitioners (STEP) examinations...
Ruth Markham
Associate Solicitor
Ruth Markham prepares Wills and Lasting Powers of Attorney for clients and also deals with the administration of estates on behalf of Executors...
Rebeka Clarke
Trainee Solicitor
Rebeka joined the firm in 2018 and is currently in her second seat practicing Trusts and Estates. She has already completed a seat in the firm’s Dispute Resolution team...
Nicola Dodman
Senior Wills Trusts and Estates Manager
Nicola joined Tollers in 2004 and now works as a senior manager in Trusts & Estates...
Martin Hill
Equity Partner and Notary Public
Martin Hill is a Notary Public as well as advising on high value estates, Wills, Court of Protection, Powers of Attorney and Trusts...
Kirstie Brownbill
Associate Solicitor
Kirstie has been with Tollers for over 10 years. She is currently based at our Corby office where she works as a part of the team dealing with Wills, Estates, Trusts and Powers of Attorney...
Julie Yates
Senior Probate Manager
Julie is a fee earner in the Trust and Estates department. Julie has over 17 years of experience in this area.
Jeremy Simmonds
Partner
Jeremy provides Wills and Probate services and Conveyancing to the established and growing client base in Rutland...
Emma Wesley
EVCU Manager
Emma has been a member of our specialist Elderly and Vulnerable Client Unit (“EVCU”) since it was set up in early 2013...
Claire Barratt
Legal Manager
Claire works as part of the team in the Trust & Estates Department. Her main role is to assist the Solicitor’s with the files of clients that have sadly passed away...
Chris Lucas
Solicitor
Chris is an associate member of Solicitors for the Elderly and a Member of Action on Elder Abuse...
Cherryl Law
Legal Manager
Cherryl Law is a Legal Manager in the Northampton Trusts and Estates team. Cherryl is able to draft Wills, Lasting Powers of Attorney...
Cathy Eaton
Senior Legal Manager
Cathy Eaton is a senior legal manager with over 24 years’ experience specialising in the preparation of bespoke wills, Administration of Estates...
Barry Rogers
Partner and Head of Trust and Estates
As well as Trusts and Estate work Barry is a Notary Public which is the oldest branch of the legal profession...
Paul Bellière-Wilson
Senior Associate
Michael Christopher
Solicitor
Layla Qureshi
Solicitor
Susan Agnew
Chartered Legal Executive
James Willoughby
Solicitor
Steve Bowers
Will Writer
Shireena Sheridan
Solicitor
Sharon Brown
Senior Associate Solicitor
Sarah Horn
Solicitor
Ruth Markham
Associate Solicitor
Rebeka Clarke
Trainee Solicitor
Nicola Dodman
Senior Wills Trusts and Estates Manager
Martin Hill
Equity Partner and Notary Public
Kirstie Brownbill
Associate Solicitor
Julie Yates
Senior Probate Manager
Jeremy Simmonds
Partner
Emma Wesley
EVCU Manager
Claire Barratt
Legal Manager
Chris Lucas
Solicitor
Cherryl Law
Legal Manager
Cathy Eaton
Senior Legal Manager
Barry Rogers
Partner and Head of Trust and Estates
Meet the Full Wills, Trusts and Estates Team

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