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Trust Solicitors Essex
Setting up a trust is often about protecting people, not just assets. Whether you are planning ahead, supporting vulnerable beneficiaries, or managing family wealth, a trust can provide clarity, control, and long term reassurance when it is structured properly.
Are you considering a trust but unsure where to start?
Trusts can feel complex, particularly when you are trying to balance family needs, tax considerations, and future flexibility. Many people worry about choosing the wrong structure or creating arrangements that are difficult to manage later. Clear advice at the outset can make a significant difference.
Protecting Assets for Future Generations
Protecting assets for children or future generations without restricting flexibility
Providing for Beneficiaries
Providing for vulnerable or dependent beneficiaries in a controlled way
Using Trusts as Part of Estate Planning
Ensuring trusts work alongside Wills and wider estate planning
Tax and Administrative Purposes
Reducing your potential tax liabilities or administrative complications.
Understanding Trustee Duties and Responsibilities
Understanding trustee responsibilities and long term obligations
Speak to our team
Muhammed Ali
Probate Manager & Associate
Manzurul Islam
Member
Kristina Wolfenden TEP
Senior Associate Solicitor
Kate Wells
Consultant
Hazara Patel TEP
Senior Associate Solicitor
Emma Boys-Smith
Solicitor
Anne Wijayarathne
Associate Solicitor
Awais Mahmood
Wills & Probate Solicitor
Trust Solicitors Services
Trusts can be used in many different situations. Our advice is always tailored, ensuring the trust serves its intended purpose without creating avoidable difficulties.
Trust disputes
We advise trustees and beneficiaries on disputes relating to the administration of trusts, including disagreements over assets, costs and decision-making. Our solicitors help resolve issues proportionately, whether through negotiation or court proceedings.
We advise on creating trusts within a Will to protect and control assets after death. Will trusts can provide for children or vulnerable beneficiaries, preserve family wealth for future generations and help manage financial risk, including care fee considerations.
We guide trustees through their legal duties, including identifying trust assets, managing and preserving them, and complying with the terms of the trust. We also advise on avoiding breaches of trust and responding to challenges from beneficiaries.
Manzurul Islam
Member
Schedule a call to discuss trusts, trustee duties and next steps.
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Mrs N died a widow leaving one adult daughter who was sadly addicted to alcohol and unable to work owing to poor health. Mrs N left her entire estate to a trust, set up to benefit her daughter. She named Mullis & Peake as her trustees which meant the firm was responsible for running the trust and were able to pay out the funds on the terms set out by Mrs N under her will.
As the trust was deemed to own the money from the estate, it meant it did not affect the daughter’s means tested benefits. Because Mullis & Peake was the trustee it meant the daughter did not have free access and so would not be tempted to use the funds to aggravate her poor health and fuel her alcohol addiction. The Trustees are able to ensure the funds are used sensibly and last as long as possible, ideally for the remainder of the daughter’s life.
Case study 1
Mr T and Mrs T each had children from previous relationships. They were concerned about making outright gifts to each other on the first death. Specifically they were mindful of the risk the surviving spouse could re-marry or simply pass on the combined wealth to their own natural children to the exclusion of the step-children.
Mr & Mrs T used a Will trust to dictate how their individual wealth was used and who it would pass to. They were able to ensure the surviving spouse had the benefit of the estate for the remainder of their life, with any unspent surplus to pass to each person’s natural children respectively. It therefore allowed them to retain a degree of control and ensure future generations were cared for.
Case study 2
Frequently asked questions
A Trust is a legal concept where Trustees hold assets for Beneficiaries. This may be because the Beneficiary is vulnerable and the funds need to be protected from financial abuse, or the Beneficiary is unable to manage the funds personally. Other uses include ensuring that funds remain in the family in the event that a widow or widower remarries, or to hold funds from life insurance policies. A trust can be considered to be a legal person, so they can own assets in the same way a person can, for example, a house. So, if you wanted to set up a trust, you could give the house to the trust, which is like a person, and set rules for the trust as to how they deal with the house, so they can make sure that it goes to a particular group of people that you wish.
The four main types of trusts:
- bare trust – where the trustee holds an asset for a named beneficiary(ies) for a set period of time. An example could be a parent holding money in a trust account for their child until they turn 18, at which point ownership automatically passes to the child.
- interest in possession trust – this is where different people can have a right to the income and capital. An example might be a house which Mr K places in trust where Mrs K can continue to live in the house and receive any income it might generate during her lifetime but has no right to the house itself. After she passes away the house is shared by the children.
- discretionary trust – these types of trust are quite flexible and leave a significant degree of autonomy in the hands of the trustee, who is responsible for managing the trust. The trustee might decide who gets paid out, when and how often. An example might be a grandparent setting up a discretionary trust for all of their grandchildren where each one might have different needs, particularly if one or more has a disability, so there is no requirement to distribute equally.
- mixed trusts – this is a combination of the different trusts mentioned above and may have a range of tax implications.
Trusts can be quite technical and complex in nature so it is best to speak to an expert who can understand your needs and discuss which type of trust might be best suited to your situation.
There are two ways to set up a trust – either in your lifetime or under your Will to apply on your death.
- To set up a lifetime trust you will need to have a trust document drawn up and signed by the person setting up the Trust (the Settlor) and the people being appointed to manage the trust (the Trustees).
- To set up a trust on your death you need particular wording to be included in your Will to ensure the nature and meaning of the Trust is properly conveyed.
Nearly all active trusts have to be registered with the Trust Registration Service, even if they are not subject to tax.
When you transfer assets to a trust during your lifetime you will need to consider inheritance tax and capital gains tax.
- If you transfer assets in excess of the Nil Rate Allowance (£325,000) into Trust in any seven-year period during your lifetime, the amount in excess of the allowance is subject to inheritance tax at 20%. If you die within seven years of the transfer, further inheritance tax at an additional 20% will become due.
- A transfer of assets into a trust is a disposal for capital gains tax purposes and therefore if the assets that you are transferring into trust during your lifetime have increased in value since you acquired them, that uplift in value will be subject to capital gains tax.
- On your death any gifts, including transfer of assets into a trust, made in the seven years prior to your death will be taken into account in calculating the inheritance tax due.
- Inheritance tax may also be due on assets held in trust when they are transferred out of the trust (exit charges) and on each 10-year anniversary of the trust being set up (periodic charges). This charge is a maximum of 6%.
- The income and gains generated by trust assets will belong to the trust and will be taxed at trust rates and not at personal rates.
For more detailed advice regarding capital gains tax, the exit and periodic charges and the ongoing taxation of trusts you should always seek specialist tax advice.
No. Trusts are commonly used by families with modest estates where protection, clarity, or flexibility is important. They can be particularly helpful where there are young children, blended families, or specific care needs.
Trustees can be individuals you trust, professional advisers, or a combination of both. Choosing the right trustees is important, as they are responsible for managing the trust in line with its terms and the law. We can help you consider suitable options.
Some trusts allow for changes, while others are more fixed. This depends on how the trust is drafted. We explain flexibility at the outset and can advise on reviewing or amending existing trusts where possible.
Every situation is unique so our team will always look to discuss your needs with you, on a no obligation basis, before providing an estimate of fees. However, the typical range of costs for setting up a trust is £900 plus VAT at 20% to £3,000 plus VAT at 20% and expenses.
We can also work with your accountant or financial adviser to set up a structure which they might recommend for you taking into account your particular financial and tax circumstances.
Get in touch with our Trust Solicitors team
If you are considering a trust or would like existing arrangements reviewed, our Wills and Probate team can guide you through your options with clarity and care.
Specialist trust expertise
– Dedicated solicitors with deep experience advising on the creation, administration and protection of trusts in line with legal requirements.
Fast, confidential advice
– Clear guidance when you need it most.
No-obligation consultation
– Understand your options before you decide.
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Latest insights and news
Insights
Guidance provided on validity of Pandemic Wills
The case of Coady v Coady (PT-2023-BHM-000025, concerned a legal dispute over the validity of a Will made by Kathleen Bernadette Coady in 2020, during the COVID-19 pandemic.
William Cook
Associate Solicitor
Aaron Burkett
Dispute Resolution Solicitor
Esra Dogan
Associate Solicitor