A trust is a legal arrangement in which assets are assigned to a board of trustees to look after on the behalf of others, the beneficiaries. There are many reasons why trusts are used, including protecting assets from claims by third parties, minimising Inheritance Tax liability, or holding assets on behalf of children until they reach adulthood. During the period of the trust, the trustees manage the assets – typically cash, property, or investments – and must make decisions based on the best interest of the beneficiaries, while there are also important tax implications to consider, which vary according to the type and terms of the trust.
At Arnold Hill & Co, we assist with all aspects of setting up, administering, or winding down a trust, ensuring full compliance with all legal requirements and tax rules. We deliver a professional, confidential, and unbiased approach to our work, ensuring that our actions protect our clients’ interests at all times.
If you’re planning to set up a trust but you don’t know which type is suitable, we can provide tailored advice that is based on your individual circumstances, ensuring that the trust will deliver exactly what you need.
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