A Trust is a fund which holds assets for the benefit of one or more individuals. Trusts are governed by complex rules and are also subject to separate Tax Regulations. They can be set up at any time during the lifetime of an individual to take effect immediately or upon their death.
Trusts can be used for various reasons such as protecting an individual's assets against unforeseen future events for example, against divorce or bankruptcy and to provide for vulnerable individuals such as those with learning difficulties. They can also be used as a form of tax planning.
Bailey & Cogger can advise on and set up the most appropriate and tax efficient form of trust depending on your circumstances and also deal with the administration of existing trusts.