Discretionary Trusts Nottingham, Derby & Sheffield
Setting up a Discretionary Trust
A Discretionary Trust is an ideal way to protect Assets for the future by ring fencing investments, property, business assets and other valuable items and providing benefits for loved ones and future generations.
The very word Discretionary gives the Trust flexibility to provide capital or income or both for potential beneficiaries and is run by appointed Trustees. These trustees should be a maximum of four and a minimum of two.
They are appointed to run the Trust provide the benefits from the terms of the Trust and these Trustees should also be guided by an expression of wishes that the Testator draws up and these should be taken into consideration when making decisions.
These help to guide the Trustees in making these appropriate decisions in line with the Testators wishes.
The Trustees are also responsible for the administration of the Trust and complete any relevant Tax returns. It is therefore important that Trustees can work well together in the interest of the beneficiaries.
The new residents Nil rate band allowance should be considered when looking to put a Discretionary Trust in place, because depending on individual circumstances the Trust may not be appropriate in certain situations.
Despite this if appropriate then the Trust can provide an ideal solution to a person wishing to have loved ones benefit with people charged with overseeing the way this is processed.
In more complex situations professional Trustees should be considered.
April-Dawn Martin – Nigel Johnson has been extremely helpful, honest, thoughtful with my personal details & thoroughly professional with regards to our Will. Along with other details I felt totally at ease & he has come across as extremely trustworthy, & really cared about us. He has made me feel like I’m his only Client, so thank you so much Nigel for caring enough to deal with us.
Doreen – Nigel came to our house as my mum needed to make a new will. He was very professional but at the same time was friendly and easy going and that instantly put my mum at ease. He explained everything really well and l don’t think l could have found anyone better.
Thank you Nigel
Stephen Taylor-Edwards – Excellent service. Did exactly as promised when promised and very reasonable price. Recommend without hesitation.
Why Choose Us?
We have over ten years’ experience in this important area and you will find that we work to a strict code of conduct with both compliance and a client’s charter in place.
A duty of care to our clients is our number one priority, which means that we are only satisfied when our clients are more than satisfied with the work that we have produced for them.
We find that clients often thank us for explaining important points and procedures that they were not only unaware of, but others failed to point out to them.
We are qualified to give you the best advice and service, we also offer a free no-obligation discussion – at at time and place to suit you. We have ELITE PROstatus on Bark and have been recognised for our good services.