Trusts Solicitors

If you need someone to manage money for you, for example, to pay for your care in later life or to use it to help someone after your death, you may wish to consider setting up a trust. A trust is a legal arrangement where one or more persons, called trustees, look after and deal with assets for the beneficiaries.

You may set up a trust to support someone who is unable to manage their money, such as a dependent with learning difficulties or a mental health condition and you are concerned how they will manage financially when you are not around.

A trust can also be set up to make sure that your own money is used to look after you when you are unable to look after yourself.

Our trust specialists can advise you on all aspects of creating a trust and manage the trust in accordance with your wishes.

In addition, Brachers Trust Corporation Limited can be appointed as a professional trustee at no extra charge.

Start your estate planning journey online or if you need guidance about your options, speak to our team. You can call us on 01622 690691 or fill out or online contact form.

The managing of trusts can often be complex and time consuming. Our specialist Trust Management team can advise you on all aspects of setting up trusts and administer them on your behalf. We currently look after a significant number of active trusts which range in value and complexity and offer a wide range of services which includes:

• Tax planning in and out of trusts
• General trust administration
• Advice to trustees on their duties and obligations
• Regular trust reviews and trustee meetings
• Preparation of trust deeds and documents
• HM Revenue & Customs Trust Registration
• Annual trust accounts / financial statements
• Annual trust tax returns
• Trust CGT reporting on disposal of residential property
• Inheritance Tax reporting
• Advising on income tax, capital gains tax and inheritance tax issues
• Trust compliance
• Distributions to beneficiaries
• Vulnerable person elections

We are also able to assist with the preparation of estate accounts, estate tax returns, registration of estates on the HM Revenue & Customs Trust Registration Service and estate CGT reporting on disposal of residential property.

In addition to our trust management role, Brachers Trust Corporation Limited can be appointed as a professional trustee at no extra charge.

Start your estate planning journey online or if you need guidance about your options, speak to our team. You can call us on 01622 690691 or fill out or online contact form.

Charitable Trusts are established to support specific charitable causes or organisations which are for public benefit.  They attract a favourable tax treatment, operate principally under the Charites Act 2011 and are regulated by the Charity Commission.

Our team at Brachers are able to advise clients on the setting up of a Charitable Trust either during their lifetime or under their Will. There is a preferable tax treatment if you make a gift to charity in your Will which is more than 10% of the overall estate.

Trustees need to be appointed to administer a Charitable Trust and they must administer the Charitable Trust in line with the governing document and the law. At Brachers our dedicated corporate trustee, Brachers Trust Corporation Limited can assist in a trustee capacity.

Our specialist Trust team can also assist with the general administration of charitable trusts. Some of the services which we can offer are:

• Advising on the most appropriate legal structure for the Charitable Trust
• Advising on governance and compliance
• Advising trustees on their legal duties
• Preparation of governing documents outlining the charitable purpose, governance structure and operational guidelines
• Registering the Trust with the Charity Commission to obtain charitable status (charitable trusts with an annual income of £5,000 must be registered with the Charity Commission)
• HMRC recognition of the charity’s status and ongoing compliance
• Managing trust assets
• Preparation of annual accounts
• Chairing trustee meetings and organising charitable donations

Our team of specialists Trust lawyers are based in Maidstone and Canterbury and are ready to help with any legal advice you may require so please get in touch. Start your estate planning journey online or if you need guidance about your options, speak to our team. You can call us on 01622 690691 or fill out or online contact form.

In addition to the active trusts which we administer, we also have a substantial portfolio of dormant trusts. It is appreciated that trusts may not require work on a day to day basis but need to be kept under regular review. We have a central record of dormant trusts and monitor key dates to ensure that we can assist trustees with action required as necessary such as ten year anniversary reporting requirements and trust registration reporting requirements. We can also update trustees on any changes in legislation or tax which affect the trust position.

Start your estate planning journey online or if you need guidance about your options, speak to our team. You can call us on 01622 690691 or fill out or online contact form.

The termination of trusts is a complex area and requires specialist advice and planning. Our specialist Trust Management team can advise you on all aspects of bringing trusts to an end and deal with any documentation and tax reporting requirements for you. Our services includes:

• Advice on termination of trusts including tax planning
• Preparation of trust deed to formally bring the trust to an end
• Registration and closure of trust on HM Revenue & Customs Trust Registration Service
• Inheritance Tax reporting
• Income and Capital Gains Tax reporting
• Distributions to beneficiaries
• Final accounts / distribution statements

Start your estate planning journey online or if you need guidance about your options, speak to our team. You can call us on 01622 690691 or fill out or online contact form.

We have dedicated tax specialists within the trust team who can not only deal with all aspects of tax and compliance in relation to a trust but also undertake personal tax affairs for individuals. Having both a trust and a Will provides a more robust estate plan, addressing various aspects of asset management, guardianship, and probate. We recommend speaking to our Will writing solicitors to tailor these documents to your specific needs. Some of the services we can offer include:

• Tax returns to dates of death
• Estate tax returns and registration
• Preparation and submission of personal tax returns – including first registration for self-assessment
• Rental property income and expenditure statements
• Capital gains tax reporting on the sale of residential property
• Capital gains tax holdover claims for property placed into trust
• Review of capital gains tax for divorce proceedings
• Tax repayment claims for beneficiaries
• Disclosure of undeclared income to HMRC through available campaigns

Start your estate planning journey online or if you need guidance about your options, speak to our team. You can call us on 01622 690691 or fill out or online contact form.

A declaration of trust is a document which confirms the ownership of a property and any beneficial interests. It is extremely important to arrange a declaration of trust where the legal owners and beneficial owners are different. This document can also record contributions made by separate parties.

We can liaise with both our Commercial Property and Residential Property teams when preparing simple and complex declarations of trusts to ensure that these are registered on the property title.

Start your estate planning journey online or if you need guidance about your options, speak to our team. You can call us on 01622 690691 or fill out or online contact form.