Trusts

Give your family a helping hand & look after long-term wealth.

Once thought of as a tool for the wealthy, Trusts can be a flexible way to help protect your assets and ensure that your beneficiaries get the most out of your estate.

Houses, cars, businesses, investments, money & more.

Blended families, vulnerable beneficiaries, tax planning, whatever your requirements, we can explain your obligations and offer advice on the most appropriate use of Trusts.

Preserve your assets for future generations to enjoy, call 01482 225566 and chat to our Trust Solicitors in Hull & Beverley.

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the Mould

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When you need a straight answer or update that’s easy to understand, just get in touch.

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A fresh approach with a with a large dose of common sense.

Feel like a person & not just a number with our friendly legal advice! Call 01482 225566

Trust Solicitors Hull FAQs

Ready to Talk?

Are Trusts only for rich people?

Yes, it’s true that people with lots of money do tend to have more headaches when it comes to protecting their assets and setting up their loved ones for the future. However, Trusts come in many different forms and can prove useful for lots of different people facing many different situations.

In what circumstances might a trust be useful?

In the event of a successful Personal Injury claim.

If you’ve had a successful personal injury claim, putting it in a Trust can make sure the money is used to compensate you – rather than giving the Government a reason to stop helping you. In most cases, benefits start to be reduced if a person currently has capital of £6,000 or above. Once a person has over £16,000 nearly all benefits are typically lost. A personal Injury Trust is a legal document which allows any compensation you have received to be disregarded when you are assessed for means tested benefits whilst ensuring you still have access to the funds. The benefits agency generally gives you 52 weeks from payment to create the trust.

If you have a blended family or are worried about care fees.

These are typically called Property Protection Trusts and are usually created when a couple have children to a previous relationship or have concerns over what would happen to their property if their partner were to remarry after their death. These trusts can balance the interests of children and surviving partners by allowing a partner to have use of the property whilst they are alive, or until they remarry or cohabit. Once this interest has been fulfilled the property is split between your nominated beneficiaries such as your own children. Another result of this trust would mean that the Government cannot claim the first to die’s half of the house towards the survivor’s care fees. Should the survivor remarry, only their share can be passed to a future spouse.

Put simply, it’s a good way to protect your share of a property and make sure that your biggest asset can only transfer into the hands of those who you specify.

What about an Asset Protection Trust?

Over the years Asset Protection Trusts have been mis-sold to people as a way to protect their estates from inheritance tax and payment of care fees. Unfortunately transferring assets into a Trust without proper advice can leave people facing sizable capital gains and inheritance tax bills, as well as creating ongoing management burdens. If its is found that the only reason the trust was created was to avoid the payment of care fees (known as deliberate deprivation of assets) or other creditors, there are anti avoidance measures which prevent the trust being effective.

This is not to say that Asset Protection Trusts can never be useful, but it is important to take advice on their effectiveness and suitability for your own situation. It is also always important to be aware that current rules, and thresholds are susceptible to change.

Listen to our Trust Solicitors Hull experts

Nicola Clarkson

Nicola Clarkson

Legal Cashier

What makes me tick? I like to make sure I work quickly and efficiently to make sure…

Rebecca Sutton

Rebecca Sutton

Licensed Conveyancer

What makes me tick? I pride myself on my structured and methodical approach when helping clients sell…

Sara Winter

Sara Winter

Receptionist

What makes me tick? I am friendly, helpful, and always have a smile on my face! I…

Our Trust Solicitors Hull Team

Claire Ryder

Claire Ryder

Solicitor

Chris Hutchinson

Chris Hutchinson

Senior Solicitor

Chris Hutchinson

Client Controlled Budgets

Apart from the stress and general uncertainty that often goes with disputes and litigation, people often worry about legal costs. Legal costs can often run away as a case takes longer, becomes more complex or the other party becomes super unreasonable.

We manage legal costs by putting you in control.

  • Set agreed budgets for initial work
  • Set budget for each phase of work
  • Pay as you go
  • Not exceeding budget without your agreement
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