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Lifetime Planning

Trusts Solicitors in Manchester & Bolton

Trusts can be a valuable tool for protecting property, savings, shares and other assets you have built up, ensuring your loved ones get the full benefit of your hard work and lifetime planning. That can also be essential when you need to make sure that a vulnerable dependant will get the care and support they need when you are not around to look after them.

For a trust to be effective, however, it needs to be set up and managed properly. That means creating the trust in the most effective way, choosing the right trustees to manage the trust and making sure that trustees have appropriate legal advice to deal with their responsibilities.

At Fieldings Porter, our highly experienced trusts solicitors in Manchester and Bolton aim to make the process of setting up or managing a trust as simple as possible. We can provide the friendly, expert guidance you need to ensure your assets are protected and your loved ones looked after, now and in the future.

We also regularly advise trustees on the management of trusts and the beneficiaries of trusts on any questions or concerns they have over how a trust is being dealt with.

Speak to one of our friendly, expert trusts solicitors now by contacting your local Fieldings Porter office in Bolton on 01204 540900 or Manchester on 0161 834 4722.

Our trusts services in Manchester & Bolton

We can help you with everything from creating a trust and choosing trustees, to managing your responsibilities as a trustee and challenging the actions of trustees where there are concerns over how a trust is being managed.

Our trusts solicitors’ expertise covers all types of trusts, including:

Bare trusts – Where the assets are held in the name of a trustee who has full access to the capital in the trust and its income as long as they are over 18. Bare trusts are often used to protect assets for a trustee while they are under 18.

Interest in possession trusts – Where the income from the trust is paid to a third-party, who is often a dependent of the person who created the trust. Interest in possession trust are often used for income generating assets, such as shares, with the income paid to a spouse or other dependant until their death, at which point the assets can pass to another dependant, such as your children.

Discretionary trusts – Where the trustees can decide how the income from the trusts (and sometimes the assets in the trust) can be used. Discretionary trusts are often used where a beneficiary has needs that are hard to predict, such as if they have a serious health condition that may need further treatment in the future, or if the beneficiary is not considered responsible enough to manage the trust income themselves.

Common questions about trusts

How do you create a trust?

You can create a trust during your lifetime to be used immediately or you can make provisions for a trust to be created in your Will, meaning the trust will come into existence upon your death.

If you want to create a trust, our team can guide you through the entire process, including choosing your trustees, helping to make things as simple and straightforward as possible.

Who can be a trustee?

Normally, anyone over 18 can be a trustee. However, there are certain issues that can see you being disqualified from acting as a trustee, including:

  • If you have an unspent conviction for any offence involving deception or dishonesty
  • Have been declared bankrupt and the bankruptcy has not yet been discharged
  • If you are subject to an Insolvency Order

Why might you set up a trust?

There are various reason to set up a trust, including:

  • To minimise your estate’s liability for inheritance tax
  • To provide for the future care of a loved one with special needs
  • To contain personal injury compensation, so you can receive an income from it without affecting your entitlement to state benefits
  • Where you have remarried and want your new spouse to be able to benefit from your estate during their lifetime, but then for your assets to pass to your children from a previous relationship

Why choose Fieldings Porter for your trust?

Our trusts solicitors in Manchester and Bolton have been advising clients on everything to do with creating and managing trusts for decades. That experience means we can help you find exactly the right options for your circumstances, ensuring your assets and loved ones are taken care of for the future.

Our team includes members and associate members of the Society of Trust and Estate Practitioners (STEP), reflecting our expertise and commitment to excellence in this area.

Fieldings Porter has achieved the Law Society’s Lexcel accreditation and is independently regulated by the Solicitors Regulation Authority (SRA).

Speak to our trusts solicitors in Manchester and Bolton now

To discuss your requirements with one of our highly experienced trusts solicitors, please contact your local Fieldings Porter office in Bolton by calling 01204 540900 or Manchester by calling 0161 834 4722.