Trusts

Establishing Trusts: Safeguarding Your Legacy

Establishing a trust offers a powerful mechanism for controlling and protecting your assets, both during your lifetime and beyond. We can establish trusts to cater for a multitude of requirements, from safeguarding assets for future generations or vulnerable beneficiaries, such as children or disabled adults, to complex family provisions.

Trust Deeds: Reserved Instrument Activity

It is important to note that, under the Legal Services Act 2007 (LSA), the preparation of a trust deed that is not part of a will is considered a “reserved instrument activity.” This falls under the broader category of “reserved legal activities” which can only be performed by authorised persons, such as solicitors, barristers, or licensed conveyancers. Given the intricate nature of trust law and the necessity for precise wording, expert legal advice is highly recommended to ensure the trust accurately reflects your intentions and remains legally robust. Our comprehensive advice ensures that your trust meticulously reflects your intentions, addressing your unique circumstances with foresight. Our fully qualified and insured solicitor provides the expertise necessary to structure your property and possessions precisely as you desire. An expertly drafted trust can avoid the public and often protracted process of probate, allowing for a more private and efficient transfer of assets to your beneficiaries.

Transparent Trust Establishment Costs

We offer clear and competitive pricing for our trust establishment services.

For instance, a standard trust, such as a straightforward bare trust or a simple discretionary trust, will typically cost £980.00 (calculated as four times our hourly rate of £245.00) plus VAT of £196.00, totalling £1,176.00. This fee incorporates the essential step of verifying your identity and address to ensure the legality and integrity of your trust documentation.

However, should your trust involve greater complexity—perhaps due to a significant number of specific beneficiaries or diverse asset classes—our fee will likely be £2,450.00 plus VAT of £490.00, totalling £2,940.00. This also includes the cost of verifying your identity and address.

Please note, these fees do not include bespoke inheritance tax planning advice that extends beyond the trust’s initial establishment, nor do they cover any ongoing trust administration services. Nevertheless, we are available to discuss these as separate services should they be required.

Our Solicitor Fee Structure

Our charges are computed based on the time dedicated to your matter, encompassing the taking of instructions, the provision of expert legal advice, written confirmation of instructions, and the meticulous drafting of your required trust documentation. Our hourly charging rate is £245.00 plus VAT of £49.00 (£294.00 total). This may include time spent meeting with you to gather your instructions and provide counsel, or in the preparation of legal documents.

For brief correspondence (up to one A4 page) and short telephone consultations (up to six minutes), we apply one-tenth of the hourly rate. Longer telephone calls are charged based on the actual time incurred. Similarly, for more extensive letters, we charge one-tenth of the hourly rate per A4 sheet.

We charge £15.00 per person plus VAT of £3.00 (£18.00 total) for the secure verification of your identity and address.

Convenient and Professional Trust Services

Experience the ease of establishing your trust from the comfort of your own home or business premises, secure in the knowledge that your trust has been prepared by a fully qualified and regulated solicitor.

Should you require our expert assistance with establishing a trust or with any other facet of estate planning, please do not hesitate to contact us by telephone or via the email link provided. We will then call or email you promptly to discuss your specific requirements. We can arrange a Microsoft Teams meeting; alternatively, if you reside within a 20-mile radius of Plymouth, we can visit you at your home or business premises for a personalised consultation.