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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

Jade Atkins
Paralegal
Jade is a paralegal for the Corby Trusts and Estates Team. She is responsible for the administration and drafting of documents.
Michelle Gladwin
Paralegal
She then joined Tollers in April 2014 and was one of our founder members of staff in our first Stevenage Old Town office. Michelle now works as a paralegal, assisting and working alongside the two partners in our Trusts and Estates South team.
Leighanne Haskell
Paralegal
Leighanne is a paralegal working within the Trusts and Estates team, assisting James Willoughby with Estate Administration matters.
Beth Albon
Senior Paralegal
Beth started her legal career as an Apprentice in 2017. She joined Tollers in August 2022 and was promoted to a Senior Paralegal in April 2023.
Alison Taylor
Senior Paralegal
Alison joined Tollers in 2021 as a Paralegal. She now works as a Senior Paralegal and junior fee earner within the Trusts and Estates department.
Patrick Allen
Paralegal
Patrick joined Tollers in May 2022 as a Paralegal working in the Trusts and Estates department. He is also part of the Tollers CSR committee.
Megan Smyth
Trainee Solicitor
Megan joined Tollers in October 2022 as a Paralegal in the Elderly and Vulnerable Client team. Megan is responsible for processing instructions relating to Attorneyship/Deputyship administration work in accordance with the established procedures of good practice and the Office of the Public Guardian’s (OPG) Deputy standards. In September 2023, Megan will commence her Training Contract with the firm.
Tadala Mlasaanthu
Paralegal
Tadala Mlasaanthu joined Tollers in August of 2022 as a Paralegal responsible for the administration and drafting of documents relating to the requirements and instructions of Gabrielle Smith and Nicola Dodman’s clients.
Suzanne Evans
Senior Associate and Head of EVCU
With a wealth of experience, Suzanne has joined the team at Tollers Elderly and Vulnerable Client Unit.
Gabrielle Smith
Associate Solicitor
Kate Godber
Partner and Head of Trusts & Estates North
Kate advises individuals and families on Estate planning, Wills, Trust requirements, Estate Administration, Personal tax and Lasting Powers of Attorney...
James Willoughby
Senior Associate
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...
Sharon Brown
Partner and Head of Trusts & Estates South
Sharon offers free monthly advice clinics at Age Concern Stevenage and Garden House Hospice...
Sarah Horn
Senior Associate
Sarah has been a part of the Tollers team since June 2006 and has recently completed the Society of Trust and Estate Practitioners (STEP) examinations achieving, a distinction grade.
Nicola Dodman
Senior Wills Trusts and Estates Manager
Nicola joined Tollers in 2004 and now works as a senior manager in Trusts & Estates...
Jeremy Simmonds
Partner
Jeremy provides Wills and Probate services and Conveyancing to the established and growing client base in Rutland...
Emma Wesley
Associate
Emma has been a member of our specialist Elderly and Vulnerable Client Unit (“EVCU”) since it was set up in 2013...
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...
Jade Atkins
Paralegal
Michelle Gladwin
Paralegal
Leighanne Haskell
Paralegal
Beth Albon
Senior Paralegal
Alison Taylor
Senior Paralegal
Patrick Allen
Paralegal
Megan Smyth
Trainee Solicitor
Tadala Mlasaanthu
Paralegal
Suzanne Evans
Senior Associate and Head of EVCU
Gabrielle Smith
Associate Solicitor
Kate Godber
Partner and Head of Trusts & Estates North
James Willoughby
Senior Associate
Steve Bowers
Will Writer
Sharon Brown
Partner and Head of Trusts & Estates South
Sarah Horn
Senior Associate
Nicola Dodman
Senior Wills Trusts and Estates Manager
Jeremy Simmonds
Partner
Emma Wesley
Associate
Cathy Eaton
Senior Legal Manager
Meet the Full Wills, Trusts and Estates Team

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