Although it may seem an old fashioned idea to have a Trust, Trusts can be very useful to clients, not only in the context of planning for taxation but also to create flexibility and protection for beneficiaries.

Trusts can be established while alive and for a relatively wealthy older client the advantage of setting up a Trust during lifetime can be a retention of a degree of control over the asset or assets while seeking to make provision for possibly grandchildren or favoured charities.

Trusts are also potentially appropriate where there are disabled beneficiaries and such Trusts under the Finance Act of 2006 benefit from special treatment for taxation purposes.

We are happy to advise clients who have an interest in establishing a Trust either during their lifetime or after death. The latter type of Trust is created through the Will.