Supporting you with trust and estate administration is an important role that we approach with care, sensitivity and a comprehensive understanding of your particular needs and circumstances.
Our expertise and experience in this area mean you can be assured of a service that is tailored to you, helping to protect you and your family, both in your lifetime and after your death.
Because Simpson Wood also provide excellence across accountancy, tax, financial planning and wealth management, we’re able to see the full picture and support you across all aspects of your affairs, with trusts and estate administration as a key part of the complete picture.
Trusts and estate planning are ultimately about control: ensuring your assets are handled and passed on in the way that you intended. It’s essential to get this right to protect future generations.
What is a Trust?
A trust is a legal arrangement under which you can place assets to be controlled by trustees for the benefit of the beneficiaries. This is carried out according to the terms of the trust and the class of potential beneficiaries which will be set out in the trust deed.
Trusts are usually tailored to your needs and circumstances and those of your family.
Why would you create a trust?
Inheritance Tax. Placing assets in a trust during your lifetime can reduce the amount of inheritance tax (IHT) that is payable upon your death.
Safeguarding. Assets that are part of a trust do not form part of your personal estate, providing asset protection.
Providing for Your Family. A trust can help you provide for family members both during your lifetime and after your death in a flexible way.
Estate administration is the process by which an individual’s assets (net of any liabilities and inheritance tax) are distributed after their death in accordance with the terms of their will. It is a sensitive and challenging area of practice that requires high levels of trust, discretion and understanding.
Assistance from Simpson Wood in administering an estate professionally and to the highest of standards ensures your wishes are carried out, the correct amount of tax is paid, and your family avoids unnecessary stress and upset at an already difficult time.
Estate administration can include…
Collating information for an application for Grant of Probate. Our expert team are highly experienced in managing the administrative matters that arise .
Valuing your Estate. We can arrange an accurate valuation of all your assets and lifetime gifts.
Preparing Estate accounts. We’re experienced in completing a clear financial record of all assets, liabilities and distributions, and dealing with all taxation matters during the estate administration period.
From accountancy & tax to financial planning and long-term strategy, Simpson Wood works closely with business-owners, individuals and families to provide independent advice, delivered with care, clarity and commercial understanding.
Richard Wolk – Director of Tax
How do you know if you need a trust?
You may need a trust if…
You have complex family circumstances, such as a second marriage, stepchildren, vulnerable dependents, or beneficiaries who may not be financially responsible.
Your estate is likely to attract inheritance tax upon your death; and you would like to mitigate this.
You would like more control over who benefits from your assets after your death.
You would like to protect assets from potential risks.
Why choose us for trusts & estate administration?
Our depth of knowledge and experience in the practical application of tax and trust law, along with our outstanding track record of delivering excellence for our clients, has earned us an unmatched reputation, as well as long-standing client relationships.
We can prepare wills and lasting powers of attorney in accordance with your instructions, making it easier for you to keep the administration of your affairs under one trusted roof.
As a client, you’ll have a director appointed to look after your affairs, giving you a dedicated point of contact. Your dedicated director will come to know you and your family and will always work in your best interests. We get to know and understand you and your family’s needs by building a relationship with you for the long term.
