Trusts

What is a trust?

A Trust is a legal entity where assets (property, money, investments) are looked after by the nominated Trustees and used for the benefit of Beneficiaries (such as children, grandchildren, spouses, parents, charities etc.) in accordance with the rules specified by the person who created it.

A Trust can be created during your lifetime so that you start transferring assets into the Trust as and when you decide. Or a Trust can be created by your Will so it would only take effect on death.

Close up of the inside of a savings jar showing a pile of small change in Great British Pounds.

Why should you create a trust?

Placing assets into a Trust gives control how the assets are used, for what purpose and for how long. If you wish assets to be looked after for the benefit of children who are young, you may set out conditions at what age they receive any money and how the money is used until they receive their inheritance. Or you may want your Trustees to make a decision when your adult children should receive their inheritance in case they were going through a divorce or bankruptcy.
A Trust is a good tool to look after vulnerable / disabled beneficiaries so that Trustees could look after the funds and help the beneficiaries’ financial needs but without compromising their entitlement to means-tested benefits.
A Trust can have multiple stages of benefits, for example, a spouse can have a right to live in a property or have an income from investments, but if they were to die, get remarried or need long term care, the assets revert to the children.
If you received compensation from a Personal Injury Claim, you have a right to place it into a Trust and it would be protected from any means tested benefits or care costs.
A Trust can be used in tax planning, but tax treatments depend on the type of trust used and the value of assets placed into a trust. It is always advisable to take appropriate tax advice before creating a trust.

What to expect?

We are here to support and help you to choose the right type of Trust. We will discuss the purpose of the trust, what type of assets you wish to protect and when.

Choosing Trustees is an integral part of creating a Trust and you will need at least two in number and maximum four or a trust corporation. Trustees will make all the decisions about how the Trust is managed, their decisions will need to be unanimous so they must work well together for the Trust to be effective. You are able to give them guidance but ultimately only their decisions will be legally binding.

The terms of the Trust will set out how the Trustees can use the assets, for how long and for whose benefit. There are various types of trust, such as child maintenance, discretionary, vulnerable beneficiary, personal injury or life interest etc.

The value and type of assets being placed into a Trust, such as your home or savings, will have specific tax treatments. Sometimes placing assets into a Trust may have unintended consequences such as unfavourable tax treatment or may be subject to deprivation of asset rules when assessing care funding.

We will advise you on the best options available to you so that you may choose the best type of Trust to suit your circumstances.

Our commitments to you

Our team of experienced family solicitors are ready to help you.

We look after you

We understand that you’re going through a tough time, and we’re here to support you through it.

Our lawyers are available to talk to you whenever you need it.

We keep you informed

It can be stressful waiting for information.

We don’t keep you waiting. As soon as we have progress, we let you know straight away.

We help you understand

Legal matters can be complex.

We’ll explain everything to you and guide you through the process so that you know what’s happening.

Our process

Our team of experienced family solicitors are ready to help you.

1.

Book your free 30-minute consultation to assess your situation and needs

2.

You’ll provide us with the essential details we need to proceed

3.

We’ll prepare a draft for you to review and make any changes

4.

You and your Trustees will sign the final documents

5.

We’ll register the Trust with HM Revenue & Customs and take steps to transfer assets to your Trustees

Fees

Our fees vary from case to case, and our quote will be tailored to your own unique circumstances.
Declaration of Trust £600–£900 (including VAT)
Lifetime Trust from £1,800 (including VAT)

Testimonials

I have called upon Rebecca’s expertise a number of times over the years and have done so once again recently. There’s no one else I would recommend in relation to family matters. Her experience, practical advice and just overall confidence and expertise immediately puts you at ease in the knowledge that you’re in very good hands. With many thanks.
AnonymousMarch 2026

I can’t thank Alison enough for her help with my financial settlement. She handled everything professionally and kept me reassured throughout the whole process. Alison was friendly, supportive, and made a complicated situation feel much easier and far less stressful. She dealt with every challenge brilliantly. I’m genuinely grateful for all her work and wouldn’t hesitate to recommend her
AnonymousMarch 2026

Donata showed real sensitivity to our situation (testator with chronic illness) and flexibility to visiting different locations, (hospital, home) and at short notices too. This did not go unnoticed and was appreciated.

She also listened to the client well, which swung us to favour Rucklidge’s over the alternative firm that we spoke to; seeking to understand the client’s unique situation, rather than jumping to a proposed solution as soon as possible.

Fee transparency was valued too.
AnonymousMarch 2026

See more tesimonials …

Get in touch.

Book your free 30-minute consultation now.

01904 806031 [email protected]