A trust is where property is held by one or more people (the trustees) on specified terms for others (the beneficiaries). In essence, it is a simple concept but it is unfamiliar to many.
Trusts have been around in this country since the time of the crusades in the 12th Century. At Armstrong Watson we have not been dealing with them for quite as long as that but, we do have considerable experience going back many years of the establishment of new trusts and the management of existing trusts. We also provide professional trustees for clients where that is needed.
Many trusts are established for tax purposes and we have vast experience of using trusts as a planning tool – across a very wide range of taxes. Many trusts are also established for other reasons of course such as for the protection of children and other vulnerable people.
We have specialists who are members of the Society of Trust & Estate Practitioners (STEP) as well as being Chartered Tax Advisers so we really do know what we are talking about.