Specialist Trust solicitors

Trusts sound daunting but they needn’t be. In its simplest form, a trust means one person (the Trustee) looking after assets (such as a house, cash or shares) for someone else (the beneficiary).

The hard part can often be how to manage those assets, balance the needs of the beneficiaries and take account of possible tax consequences. A well drafted trust can protect assets and provide the trustees with enough flexibility to deal with whatever situations arise.

Whilst the principle of a trust is simple, the laws governing trusts are complex. At Mayo Wynne Baxter, our specialist trust solicitors can design an effective trust according to your wishes.

Trust Management

A Trustee has many duties and responsibilities and you must check everything is in order before become a trustee. It may be obvious but a Trustee must always act in the best interests of the trust, and only within the terms of the trust. If not, you will be personally responsible for the consequences. Some of the most important duties in relation to trust management are as follows:

To put your position as trustee first even if that conflicts with other interests

To manage trust assets wisely, and take advice in all areas where you are not an expert

To keep trust assets safe, in good condition and insured where necessary

You can delegate some of your duties, but you remain responsible for your delegate’s actions

To keep the beneficiaries informed about the running of the trust

 

Our team is happy to arrange appointments at any of our offices or alternatively at your home, place of business, in hospital or your care facility. For more information on probate, trusts & wills contact the PTW Team on:

Brighton Tel: 01273 775533
Email: brighton@mayowynnebaxter.co.uk

Eastbourne Tel: 01323 730242
Email: eastbourne@mayowynnebaxter.co.uk

Lewes Tel: 01273 477071
Email: lewes@mayowynnebaxter.co.uk

Tunbridge Wells Tel: 01892 526442
Email: tunbridgewells@mayowynnebaxter.co.uk

Hailsham Tel: 01323 840616
Email: hailsham@mayowynnebaxter.co.uk

Seaford Tel: 01323 891412
Email: seaford@mayowynnebaxter.co.uk