Setting up a Trust is a way of looking after your assets, whether these are property, shares or cash. Trusts can be set up during your lifetime, or upon death by your Will. The Trust property is held by the Trustees in accordance with the terms of the Trust Deed or document.
You may wish to consider setting up a Trust for some of the following reasons;
- To pass assets to a younger generation
- To help look after family members who may be physically or mentally disabled
- To protect assets against changing family circumstances whilst providing flexibility
- To plan tax efficient management of your assets
- To protect monies received as part of a compensation settlement
AST Hampsons experienced team based in Rochdale and Bury are able to discuss your requirements, provide advice and then draw up a Trust to protect and manage your assets for your future and that of your loved ones.
We can set your Trust up to take effect immediately or to become operative immediately following your death.
There are many different types of trust which we can set up, these include;
- Discretionary Trusts
- Bare Trusts
- Life Interest Trust
- Personal Injury Trusts
A Trust may last for up to 125 years and needs careful planning. There may be tax consequences and consideration will need to be given as to the intention behind the Trust and what you hope to achieve. There are also rules that relate to deprivation of assets for benefit and care funding purposes.
What ever your needs or requirements, call us on 01706 763 1000 for our Rochdale office or 01706 653322 for our Bury office and speak to Louise Salisbury or Joanne Ford. If you would rather email your initial enquiry, please send it to [email protected]
