Trusts

A dedicated team of specialists with detailed knowledge of trust and tax law ensures that the work Simpson Wood carries out in this area safeguards the interests of our clients.

The depth of our knowledge is matched by the breadth of our experience in the practical application of tax and trust law, and our track record of delivering for our clients has earned us an unmatched reputation and longstanding client relationships.

Key to those client relationships are our highly committed staff members. Director Nichola McNally oversees all trusts and estate administration matters, as well as the preparation of wills and lasting power of attorney documents on behalf of our clients. Nichola has been with the firm since 1987, is a member of the Society of Trusts & Estate Practitioners (STEP), and holds the STEP Advanced Certificate in Will Preparation (England & Wales).

The talent and expertise among our team enables us here at Simpson Wood to provide a range of services to help organise, manage and safeguard your own and your family’s financial interests. Trusts are an integral component of the services we offer, and they can be set up for immediate use or they can come into operation after your death under the terms of your will.

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What are trusts?

A trust is a legal arrangement under which someone (the settlor) places assets under the control of persons (the trustees) for them to administer for the benefit of others (the beneficiaries), according to instructions contained in the trust deed.

Trusts are generally tailor-made to suit the requirements of the settlor and their family.

Common reasons for creating a trust are:

Reducing inheritance tax payable on your death
Providing for your family during and after your lifetime
Safeguarding your assets during your lifetime and after your death

Our approach to trusts

As part of our trusts service, we assist in completing annual trust accounts and tax returns, reviewing the suitability and performance of trust assets and hosting trustee meetings.

We also provide expert advice throughout the life of the trust to ensure that the maximum benefit is derived from the assets held by the trustees.

Simpson Wood can also take over and administer existing trusts if required. One of our directors can, if you wish, act as a professional trustee and we would be happy to discuss the use of trusts for tax planning and other family reasons with you.

We will help you choose the type of trust that best suits your needs and those of your family. This can be particularly important if there are very young or other vulnerable family members to consider.

To hear more about how we can help you with trusts, contact us today.

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More from Tax and Estate Planning

We offer a complete solution to clients. As well as completing your return, we use our knowledge of your individual circumstances to provide you with proactive advice and help you to minimise your tax burden.

Our knowledge of trust and tax law and of its practical application has enabled us over many years to establish a large and well respected trust department, making us one of the leading practices in the area offering such a specialised service.

Our close working relationship with Simpson Wood and its partners has ensured that our needs are serviced in the accurate, professional and timely manner that we require.

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