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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Your future planning team

Elsie Lyford

Associate

Elsie specialises in the sales and purchases of businesses and also works with clients helping them set up their businesses.

Laura Vickers

Plot Sales & Development Conveyancer

Laura is part of the Housebuilding and Land Development Sector, specialising in the sale of new build plots on behalf of our housebuilder clients on their development sites.

Juliet Gordon

Solicitor

Juliet qualified in 2018, and joined Goughs in April 2022. She always strives to provide calm, empathetic advice, and prioritises ensuring that her clients are updated throughout the process, aiming to exceed their expectations.

Hannah Jackson

Trainee Solicitor

Hannah joined Goughs in April 2022, having received her LLM from the University of Law in 2020. She specialises in all areas of residential and commercial property, and values building lasting relationships with her clients.

Jonathan Carter-Lewis

Senior Associate

Jonathan joined Goughs in April 2022 as a Senior Associate. He enjoys problem solving and finding ways to make his clients' lives easier.

Emilie Gouzien

Trainee Solicitor

Emilie started her Training Contract with Goughs in September 2021 in the Residential Property Department. She has now moved training seats and is working within the Family department. She enjoys the personal service and client contact of this area of practice.

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with Goughs?

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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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