Wills & Trusts Solicitors

What’s the purpose of a trust?

Trusts can be beneficial in many different circumstances. If you have grandchildren, you may wish to set aside money for their education through a trust arrangement for when they get older. You can use a trust to protect your share of ownership in a property and they can also be used to ensure your children inherit your estate. Trusts can be created during your lifetime for your own benefit or after you die, through your will, to help loved ones or friends.

Trusts can also be established if you need trustees to manage your assets due to illness or disability. Trustees are required by law to act in the best interests of the beneficiary. If you have received personal injury compensation, a personal injury trust can ring-fence your compensation so you continue to qualify for means-tested benefits.