Lifetime Trusts

Setting up a Trust can be a flexible and tax effective way to provide for your loved ones.

Future Planning

Lifetime Trusts

With a Lifetime Trust, you can protect your most valuable assets, such as your property, whilst you are alive.

At Goughs, we have extensive experience in lifetime Trusts ensuring a tax efficient way to preserve your wealth and provide for future generations.

What is a Lifetime Trust?

A Lifetime Trust can protect your most valuable assets without restricting your access to the fund.

Trusts can be complex and require experienced advice and help to obtain the many benefits they provide.

We’re here to help you protect your wealth

Your Trust lawyers since 1882

Popular questions
about Trusts

Lifetime Trusts are different from Will Trusts because they are established straightaway and not upon death

You can set up a Trust during your lifetime or on your death using your Will.

The implications of either option will differ depending on the tax consequences and your own circumstances. You should seek advice when deciding the best time for you to create a Trust.

A Trustee takes legal ownership of the assets held by a Trust and assumes fiduciary responsibility for managing those assets and carrying out the purposes of the Trust.

As there are so many circumstances in which it may be worth considering the creation of, or administering a Lifetime Trust, at Goughs we are happy to offer advice on what might work for you. We consider each individual’s unique objectives and can advise on the types of Trust available to you.

We can help you consider which type of Trust would better suited to your objectives and what the implications of setting up a Trust may be. This could include tax charges on the creation of a Trust, or considerations about your own future. We can also advise you on the things to consider when choosing Trustees and what the role would entail.

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I would like to Georgina for your help, advice and professionalism over the last year or so. From a personal viewpoint, your clear and level headed approach certainly helped keep my feet firmly planted on the ground, it's greatly appreciated. I feel that your recommendation regarding Counsel was also spot on and certainly helped secure an outcome that was beneficial and fair to all.

2021-09-03

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credit to your company

I think it’s now been close to 3 years Ellie has been working on my behalf in what I imagine even she would say has been an incredibly challenging divorce. Ellie has managed to secure me a fair split of the marital home and most importantly get my ex to take responsibility for a loan that she was refusing to pay her part of, this was a huge victory as far as I am concerned.  Ellie has been professional and calm throughout despite the many frustrations and me finding things incredibly stressful she has always been there the voice of reason. She is absolutely a credit to your company and I will recommend her highly.

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Your future planning team

Emilie Gouzien

Trainee Solicitor

Emilie started her Training Contract with Goughs in September 2021 in the Residential Property Department. She enjoys the personal service and client contact of this area of practice.

Amelia Inglis

Trainee Solicitor

Amelia joined Goughs in September 2021 as a Trainee Solicitor in the Family department, having worked as a property paralegal for three years. She graduated from Swansea University in 2017 with first-class honours in Law, before completing her Legal Practice Course and Masters in Professional Legal Practice with a distinction.

Emily Windsor

Solicitor

Emily has been practising in Private Client Law since 2015, having qualified as a Solicitor in December 2019. She loves all aspects of Private Client work, including the preparation of Wills, Lasting Powers of Attorney and Court of Protection Work.

Alexine Moran

Associate

Alexine is an experienced Private Client solicitor and has been qualified for over 10 years. She deals with sensitive matters in a professional and courteous manner and takes a pragmatic approach to her work, allowing her to relate to all clients.

Rebecca Dennis

Senior Associate, Head of Employment

Rebecca's professional background is unique in that she worked for more than 20 years as a barrister providing legal advice, drafting and advocacy for her clients and more recently provided specialist trouble-shooting services on employment law and employee relations at a leading international HR outsourcing company. She is now proud to lead the Employment Department at Goughs.

Andrew Kelly

Associate Solicitor

Andrew has over twenty years litigation experience and has worked on a wide range of contentious probate matters. He has a particular interest in Will disputes; Inheritance Act claims; Proprietary estoppel; and Professional negligence.

 

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Related Pages

In this article we will explain more about inheritance tax and how some simple, pre-emptive planning can help both reduce the tax and administration burden on those that you love.

Making a Will

Transfer of Equity

Amending a Will

Wills & Powers of Attorney

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