Trust and Trust Administration

Trust and Trust Administration

At Coole Bevis LLP, we are experts when it comes to creating all types of trusts, from discretionary trusts to life interest trusts, as well as a variety of other forms. A trust is a fund which contains assets which are controlled by you and/ or your nominated trustees.

Why Set Up a Trust?

There are a wealth of benefits to setting up a trust. They may be created to protect a vulnerable person, to provide a mechanism for benefiting the family or to benefit charitable causes. A trust can be a useful tool in cross generational tax planning and can provide the flexibility to take into account the personal circumstances of the beneficiaries at any given time.

As part of your succession planning, you may wish to gift money or assets into trust during your lifetime. You can also establish trusts under your Will which only take effect after your death.

Trusts can be set up for a variety of purposes, including for providing for minor beneficiaries, asset protect or for disabled beneficiaries so as to hold any funds needed to assist with day to day living in a tax-efficient environment. Some trusts split the entitlement to income from the entitlement to capital. Others leave the distributions of both capital and income to the trustees to decide.

A trust may be set up at any time during the lifetime of an individual by way of settlement or after their death under a will. Whatever your situation, we are able to offer you essential advice on the inheritance, capital gains, income and stamp duty tax implications of setting up and managing the trust.

You will need to decide which assets are to be included and they may need to be valued. At Coole Bevis LLP, we are able to sort an asset valuation for you. You will also need to determine who your beneficiaries are and whether you wish them to benefit in a particular way from the trust fund. Finally, you need to decide who you wish to appoint as Trustees to manage the trust.

A trust is created by way of legal deed and the type of trust and the powers the trustees have will need to be set out in the trust deed. If you have set up a flexible trust you will also need to set out your wishes in a letter of guidance to the trustees.

Managing Assets In A Trust

Our Private Client solicitors can help you to create and manage a trust. We are here to ensure your assets are safe and regulated by your appointed trustees. Administering a trust requires professional expertise, particularly as trusts are complex and technical. We will make sure that you understand the implications before setting up a trust. Please be ready to discuss annual accounts, tax returns, inheritance tax and a number of other topics essential for the creation of your trust.

We will assist with appointing trustees and often act as trustees ourselves if required. We will help to agree a suitable investment policy with your investment advisers and aid you in monitoring investment performance. The heart of our goal is to create trusts which will benefit you and future generations.

We can also assist in cases of personal injury where trusts can be set up to preserve entitlement to any means-tested benefits, if the trust is set up at the appropriate time and in the right way.

What Is A Trust?

A trust is a legal arrangement which is drawn up during your lifetime to manage money or assets which will in future benefit specific individuals or groups. There are many different types of trusts, but they will always involve three categories of people; the settlors or grantors who place assets into the trust, the trustees who manage the trust, and the beneficiaries who benefit from the trust. The trustees will control the disbursement of funds to beneficiaries during your lifetime or following of your death.

What Can I Put In A Trust?

What you can put into a trust differentiates between the type of trust you have and who your beneficiaries are. However, many people choose the following to hold within a trust:

  • Property/Real Estate
  • Bank Accounts/Cash
  • Investments
  • Business Interests
  • Foreign Assets (depending on whether the jurisdiction permits trusts)

How Do I Set Up A Trust?

The process is quite straightforward and involves getting a document (a Trust Deed) prepared that sets out who you want to be the trustees, what will be in the trust, and what are to be the purposes and rules relating to the trust. However, it is important to fully understand the different types of trust and choose the one most appropriate to fulfil your intentions.

We can advise you on how best to set up the trust to achieve your goals and assist with drafting a Trust Deed.

When Might I Want To Set Up A Trust?

There are many reasons why you may consider a trust. We highlight just a few of them below:

  1. A trust can hold investments, life policies, pension benefits and private company shares outside your so estate Inheritance Tax planning may help reduce future tax
  2. Asset preservation as trusts can be used to protect and preserve the inheritance due to any children until they are old enough to take control of it themselves
  3. Provide under your Will that if your spouse or partner marries again they will be entitled to the income from the estate but not to the capital, so the capital will ultimately pass on to your own family
  4. Protect a vulnerable individual, for example who lacks mental capacity or is financially vulnerable due to a difficult marriage or insecure income potential
  5. Avoid splitting ownership of a business if there are succession problems with the next generation(s)
  6. Ring-fence Personal Injury compensation awards and protect them from being taken into account in assessing means-tested benefits
  7. Use a charitable trust to benefit a good cause, including tax exemptions where relevant
  8. Take advantage of non-UK resident situations to reduce taxation

Declaration of Trust

A declaration of trust is a special trust of land most commonly used where two or more people purchase a house or flat, particularly in unequal shares. The declaration of trust will record each person’s contribution and hence the proportions of the property they own; this ensures that when the property is sold each homeowner gets a fair portion of what they put into the property

If you would like to discuss creating a Declaration of Trust for a commercial property, please contact our Commercial Property department. For all other queries, please contact our Private Client team.

What are the duties of a Trustee?

If you are a trustee, it is your duty to maintain the trust and supervise transactions. If you are a non-professional trustee, you may want to hire a solicitor to help you administer trust business. The duties of a trustee involve taking and making payments/investments, keeping records of accounts, managing tax affairs and attending meetings whilst complying with various trust laws. Trustees are also responsible for ensuring that the trust is managed properly in the interests of the beneficiaries and this can be difficult when there are different categories of beneficiaries.

Our solicitors can help you manage your trust effectively. Whether you would like one of our team to act as a trustee, or assist if you are a trustee, they will be practical and considerate – happy to offer a solution when it is needed.

TRUST ADMINISTRATION TEAM

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Information About Brighton

  • Coole Bevis LLP is proud to offer Legal services in Brighton, a Town located in East Sussex in England.
  • Brighton is a Town and part of East Sussex which forms part of the Brighton and Hove adminstrative area in England.
  • Historically, a substantial number areas within Brighton were part of the historic county of Sussex.
  • Hove Town Hall acts as the local government administraton center in Brighton.
  • Brighton’s governing local authority structure is a Unitary_authority.
  • Brighton is located in South East England.
  • Brighton is linkedd to county district shires including Brighton and Hove.
  • The local authority within the Town of Brighton include Varndean College parish councils.
  • Brighton’s administrative wards and subdivisions also include Queen’s Park (ward).
  • The Town of Brighton additionally contains the hamlets such as Balsdean its boundaries.
  • The Town of Brighton consolidates hamlets such asStanmer, Hangleton, Saltdean, West Blatchington, and Ovingdean within its border.
  • Over the years Brighton has assimilated a number of settlements including Saltdean, Montpelier, Ovingdean, Elm Grove, Kemptown, Round Hill, and North Laine.
  • West Hill, Hanover, Hangleton, Brunswick (Hove), and Seven Dials are also part of Coole Bevis LLP’s Legal service area in the Town of Brighton.
  • Other service areas of Coole Bevis LLP in Brighton, England are comprised ofNew England Quarter, Patcham, Coldean, Preston Village, and Hollingbury,
  • as well as Brighton’s outlying urban areas Moulsecoomb, Mile Oak, Bear Road, Prestonville, and West Blatchington.
  • Last in order of mention, Coole Bevis LLP’s Legal services cover the larger Brighton area along with Westdene, Carlton Hill, Whitehawk, Black Rock (Brighton and Hove), and Woodingdean.
  • Within In Brighton, East Sussex you can find several small communities including Portslade, Bevendean, Old Steine, Kemp Town, and Roedean.
  • Towns such as Hollingdean, Aldrington, Stanmer, The Lanes, and Rottingdean are are part of Brighton.
  • Additional towns such as Brighton can be found within the Town of Brighton.
  • A variety of cities for part of Brighton including Brighton and Hove
  • Moulsecoomb Place, Brighton Business School, and Waste House are respected through out the England and the United Kingdom.
  • Well-known schools in Brighton are Falmer High School, and Roedean School.
  • Jubilee Library, and Libraries in Brighton and Hove helps preserves Brighton’s history.
  • Provide a physical education forum within Brighton are Brighton Fishing Museum, and Booth Museum of Natural History.
  • Brighton is served by Royal Sussex County Hospital, and Royal Alexandra Children’s Hospital.
  • Preston Park, Wild Park, and Queen’s Park are the most notable parks and open spaces in Brighton and are famous through out England.
  • Roads Connecting Brighton to other major towns and cities includes the A23 road.
  • Essential roads and infasructure in Brighton include London to Brighton Way, Old Steine, and Bear Road.
  • Bordering the Town of Brighton and to the south Burgess Hill, and Lewes are immediately adjacent.
  • Places to see in Brighton include Brighton Lifeboat Station, Royal Suspension Chain Pier, and Chattri.
  • Examples of famous architecture in Brighton include St Mary’s Church, Gothic House, and Brighton Forum.
  • Blended into Brighton a number of buildings of national importance can be found including Libraries in Brighton and Hove, Clock Tower, Thomas Simpson (architect), King and Queen, and 11 Dyke Road.

Information About Horsham

  • Coole Bevis LLP offers Legal services in Horsham, which is located in England, and a Town in West Sussex.
  • Horsham is found in South East England.
  • Horsham is linkedd to county district shires including Horsham.
  • Boundaries to an original ecclesiastical parish in the Town of Horsham incorperate Woodmancote, West Sussex.
  • The Town of Horsham additionally includes hamlets such as Blackstone, Maplehurst, and Tisman’s Common its administrative area.
  • The Town of Horsham additionally includes villages such as Partridge Green, Small Dole, Rudgwick, West Grinstead, and Storrington its administrative area.
  • Other villages in Horsham include Pulborough, Nutbourne, Monk’s Gate, Woodmancote, and Edburton.
  • Dragon’s Green, Hardham, Washington, Five Oaks, and Upper Beeding are also part of Horsham
  • Incorporated settlements within Horsham’s boundary now include Rudgwick, Brooks Green, Faygate, Coolham, Slinfold, Dial Post, and Tisman’s Common.
  • Coole Bevis LLP’s Legal service area in the Town of Horsham also encompasses Crabtree, West Sussex
  • Other towns found within the Town of Horsham include Storrington, and Horsham
  • The Horsham postcode district is RH12, RH13.
  • Bordering on the East of the Town of Horsham is St_Leonard’s_Forest, and Broadbridge Heath.
  • The Town of Horsham southern boundaries are bordered by Mannings_Heath, Southwater, and Billingshurst
  • Adjoining Horsham to the north, Dorking, Burgess Hill, Southwater, Haywards Heath, and Faygate are a short-distance.
  • Situated in Horsham, notable heritage assets include Madina Mosque, Horsham.
  • A large number of leading businesses make Horsham and West Sussex their home including Coole Bevis LLP.

Information About Hove

  • Coole Bevis LLP offers Legal services in Hove, East Sussex, a Town located in England.
  • Hove is based within South East England.
  • Hove is associated with county districts including Brighton and Hove.
  • The Town of Hove additionally includes hamlets such as Balsdean its administrative area.
  • The Town of Hove consolidates hamlets such asOvingdean, Saltdean, West Blatchington, Stanmer, and Hangleton within its border.
  • Over the years Hove has assimilated a number of settlements including Saltdean, Aldrington, Rottingdean, Brighton, and Portslade.
  • Additional towns such as Brighton can be found within the Town of Hove.
  • Hove is home to a number of prestigious CITIES including Brighton and Hove.
  • Hove is within the BN3 area.
  • Amongst the numerous schools and further education establishments in Hove are Deepdene School.
  • Libraries in Brighton and Hove play an important role in Hove.
  • The Hove area is the location of several hospitals including The Montefiore Hospital, and Royal Alexandra Children’s Hospital.
  • Queen’s Park, Stanmer, and Hove Park are popular with Hove residents and known through out England.
  • Notable roads within Hove include Old Steine, Elm Grove, and Bear Road.
  • Hove reputation can be ascribed to its rich heritage including Old Steine Gardens, and Hove War Memorial.
  • Famous buildings include Brighton Forum, Gothic House, and St Mary’s Church within Hove.
  • Hove encompasses notable heritage assets including Hangleton Manor Inn, Hove War Memorial, The Old Market, British Engineerium, and Barford Court.

Information About Worthing

  • Coole Bevis LLP offers Legal services in Worthing, West Sussex, a Town located in England.
  • Historically, Worthing was part of the county of Sussex.
  • Worthing Rural District is Worthing’s local authority administrative HQ.
  • Worthing’s council/local authority is a Borough_status_in_the_United_Kingdom.
  • Worthing is part of South East England.
  • The local authority within the Borough of Worthing include Worthing College parish councils.
  • The Borough of Worthing also encompasses villages such as Goring-by-Sea, Durrington, Salvington, Heene, and Offington within its administrative area.
  • Worthing border includes a number of villages such as Broadwater, High Salvington, Findon Valley, Cote, and Tarring.
  • Worthing contains a number of settlements including Heene, Goring-by-Sea, and Salvington.
  • Additional towns such as Tarring, and Broadwater can be found within the Borough of Worthing.
  • Prestigious schools in Worthing are Durrington High School, and Schools in Worthing.
  • Furthering the education of Worthing locals are High Salvington Windmill, and Worthing Museum and Art Gallery.
  • Worthing Hospital catchment areas includes Worthing.
  • Highdown Gardens, and Beach House Park are enjoyed by Worthing residents and famous through out England.
  • Worthing is the starting-point of the A24 road (England).
  • The Borough of Worthing is bordered by Shoreham_by_Sea to the East.
  • Close to Worthing, Normandy, Buncton, and Picardy are positioned immediately to the south of the Town.
  • Adjoining Worthing to the north, Buncton, Clapham, and Steyning are a short-distance.
  • Worthing reputation can be ascribed to its rich heritage including Cissbury Ring, and High Salvington Windmill.
  • Famous buildings include St Mary of the Angels, Worthing within Worthing.
  • Structures and Buildings of special interest within Worthing include Durrington-on-Sea railway station, East Worthing railway station, Our Lady of Sion School, Schools in Worthing, and Manor Sports Ground.
Trust Administration
Solicitors In Brighton

Information About Brighton

  • Coole Bevis LLP is proud to offer Legal services in Brighton, a Town located in East Sussex in England.
  • Brighton is a Town and part of East Sussex which forms part of the Brighton and Hove adminstrative area in England.
  • Historically, a substantial number areas within Brighton were part of the historic county of Sussex.
  • Hove Town Hall acts as the local government administraton center in Brighton.
  • Brighton’s governing local authority structure is a Unitary_authority.
  • Brighton is located in South East England.
  • Brighton is linkedd to county district shires including Brighton and Hove.
  • The local authority within the Town of Brighton include Varndean College parish councils.
  • Brighton’s administrative wards and subdivisions also include Queen’s Park (ward).
  • The Town of Brighton additionally contains the hamlets such as Balsdean its boundaries.
  • The Town of Brighton consolidates hamlets such asStanmer, Hangleton, Saltdean, West Blatchington, and Ovingdean within its border.
  • Over the years Brighton has assimilated a number of settlements including Saltdean, Montpelier, Ovingdean, Elm Grove, Kemptown, Round Hill, and North Laine.
  • West Hill, Hanover, Hangleton, Brunswick (Hove), and Seven Dials are also part of Coole Bevis LLP’s Legal service area in the Town of Brighton.
  • Other service areas of Coole Bevis LLP in Brighton, England are comprised ofNew England Quarter, Patcham, Coldean, Preston Village, and Hollingbury,
  • as well as Brighton’s outlying urban areas Moulsecoomb, Mile Oak, Bear Road, Prestonville, and West Blatchington.
  • Last in order of mention, Coole Bevis LLP’s Legal services cover the larger Brighton area along with Westdene, Carlton Hill, Whitehawk, Black Rock (Brighton and Hove), and Woodingdean.
  • Within In Brighton, East Sussex you can find several small communities including Portslade, Bevendean, Old Steine, Kemp Town, and Roedean.
  • Towns such as Hollingdean, Aldrington, Stanmer, The Lanes, and Rottingdean are are part of Brighton.
  • Additional towns such as Brighton can be found within the Town of Brighton.
  • A variety of cities for part of Brighton including Brighton and Hove
  • Moulsecoomb Place, Brighton Business School, and Waste House are respected through out the England and the United Kingdom.
  • Well-known schools in Brighton are Falmer High School, and Roedean School.
  • Jubilee Library, and Libraries in Brighton and Hove helps preserves Brighton’s history.
  • Provide a physical education forum within Brighton are Brighton Fishing Museum, and Booth Museum of Natural History.
  • Brighton is served by Royal Sussex County Hospital, and Royal Alexandra Children’s Hospital.
  • Preston Park, Wild Park, and Queen’s Park are the most notable parks and open spaces in Brighton and are famous through out England.
  • Roads Connecting Brighton to other major towns and cities includes the A23 road.
  • Essential roads and infasructure in Brighton include London to Brighton Way, Old Steine, and Bear Road.
  • Bordering the Town of Brighton and to the south Burgess Hill, and Lewes are immediately adjacent.
  • Places to see in Brighton include Brighton Lifeboat Station, Royal Suspension Chain Pier, and Chattri.
  • Examples of famous architecture in Brighton include St Mary’s Church, Gothic House, and Brighton Forum.
  • Blended into Brighton a number of buildings of national importance can be found including Libraries in Brighton and Hove, Clock Tower, Thomas Simpson (architect), King and Queen, and 11 Dyke Road.
Trust Administration
Solicitors In Horsham

Information About Horsham

  • Coole Bevis LLP offers Legal services in Horsham, which is located in England, and a Town in West Sussex.
  • Horsham is found in South East England.
  • Horsham is linkedd to county district shires including Horsham.
  • Boundaries to an original ecclesiastical parish in the Town of Horsham incorperate Woodmancote, West Sussex.
  • The Town of Horsham additionally includes hamlets such as Blackstone, Maplehurst, and Tisman’s Common its administrative area.
  • The Town of Horsham additionally includes villages such as Partridge Green, Small Dole, Rudgwick, West Grinstead, and Storrington its administrative area.
  • Other villages in Horsham include Pulborough, Nutbourne, Monk’s Gate, Woodmancote, and Edburton.
  • Dragon’s Green, Hardham, Washington, Five Oaks, and Upper Beeding are also part of Horsham
  • Incorporated settlements within Horsham’s boundary now include Rudgwick, Brooks Green, Faygate, Coolham, Slinfold, Dial Post, and Tisman’s Common.
  • Coole Bevis LLP’s Legal service area in the Town of Horsham also encompasses Crabtree, West Sussex
  • Other towns found within the Town of Horsham include Storrington, and Horsham
  • The Horsham postcode district is RH12, RH13.
  • Bordering on the East of the Town of Horsham is St_Leonard’s_Forest, and Broadbridge Heath.
  • The Town of Horsham southern boundaries are bordered by Mannings_Heath, Southwater, and Billingshurst
  • Adjoining Horsham to the north, Dorking, Burgess Hill, Southwater, Haywards Heath, and Faygate are a short-distance.
  • Situated in Horsham, notable heritage assets include Madina Mosque, Horsham.
  • A large number of leading businesses make Horsham and West Sussex their home including Coole Bevis LLP.
Trust Administration
Solicitors In Hove

Information About Hove

  • Coole Bevis LLP offers Legal services in Hove, East Sussex, a Town located in England.
  • Hove is based within South East England.
  • Hove is associated with county districts including Brighton and Hove.
  • The Town of Hove additionally includes hamlets such as Balsdean its administrative area.
  • The Town of Hove consolidates hamlets such asOvingdean, Saltdean, West Blatchington, Stanmer, and Hangleton within its border.
  • Over the years Hove has assimilated a number of settlements including Saltdean, Aldrington, Rottingdean, Brighton, and Portslade.
  • Additional towns such as Brighton can be found within the Town of Hove.
  • Hove is home to a number of prestigious CITIES including Brighton and Hove.
  • Hove is within the BN3 area.
  • Amongst the numerous schools and further education establishments in Hove are Deepdene School.
  • Libraries in Brighton and Hove play an important role in Hove.
  • The Hove area is the location of several hospitals including The Montefiore Hospital, and Royal Alexandra Children’s Hospital.
  • Queen’s Park, Stanmer, and Hove Park are popular with Hove residents and known through out England.
  • Notable roads within Hove include Old Steine, Elm Grove, and Bear Road.
  • Hove reputation can be ascribed to its rich heritage including Old Steine Gardens, and Hove War Memorial.
  • Famous buildings include Brighton Forum, Gothic House, and St Mary’s Church within Hove.
  • Hove encompasses notable heritage assets including Hangleton Manor Inn, Hove War Memorial, The Old Market, British Engineerium, and Barford Court.
Trust Administration
Solicitors In Worthing

Information About Worthing

  • Coole Bevis LLP offers Legal services in Worthing, West Sussex, a Town located in England.
  • Historically, Worthing was part of the county of Sussex.
  • Worthing Rural District is Worthing’s local authority administrative HQ.
  • Worthing’s council/local authority is a Borough_status_in_the_United_Kingdom.
  • Worthing is part of South East England.
  • The local authority within the Borough of Worthing include Worthing College parish councils.
  • The Borough of Worthing also encompasses villages such as Goring-by-Sea, Durrington, Salvington, Heene, and Offington within its administrative area.
  • Worthing border includes a number of villages such as Broadwater, High Salvington, Findon Valley, Cote, and Tarring.
  • Worthing contains a number of settlements including Heene, Goring-by-Sea, and Salvington.
  • Additional towns such as Tarring, and Broadwater can be found within the Borough of Worthing.
  • Prestigious schools in Worthing are Durrington High School, and Schools in Worthing.
  • Furthering the education of Worthing locals are High Salvington Windmill, and Worthing Museum and Art Gallery.
  • Worthing Hospital catchment areas includes Worthing.
  • Highdown Gardens, and Beach House Park are enjoyed by Worthing residents and famous through out England.
  • Worthing is the starting-point of the A24 road (England).
  • The Borough of Worthing is bordered by Shoreham_by_Sea to the East.
  • Close to Worthing, Normandy, Buncton, and Picardy are positioned immediately to the south of the Town.
  • Adjoining Worthing to the north, Buncton, Clapham, and Steyning are a short-distance.
  • Worthing reputation can be ascribed to its rich heritage including Cissbury Ring, and High Salvington Windmill.
  • Famous buildings include St Mary of the Angels, Worthing within Worthing.
  • Structures and Buildings of special interest within Worthing include Durrington-on-Sea railway station, East Worthing railway station, Our Lady of Sion School, Schools in Worthing, and Manor Sports Ground.

OUR OFFICES

Brighton Solicitors

Lanes End House,
15 Prince Albert Street,
Brighton BN1 1HY
t. +44 (0)1273 323231
f. +44 (0)1273 820350
info@coolebevisllp.com

Horsham Solicitors

14 Carfax,
Horsham,
West Sussex RH12 1DZ
t. +44 (0)1403 210200
f. +44 (0)1403 241275
info@coolebevisllp.com

Hove Solicitors

79 Church Road,
Hove,
East Sussex BN3 2BB
t. +44 (0)1273 722532
f. +44 (0)1273 326347
info@coolebevisllp.com

Worthing Solicitors

5 The Steyne,
Worthing,
West Sussex BN11 3DT
t. +44 (0)1903 213511
f. +44 (0)1903 237053
info@coolebevisllp.com