Trusts
Trust Lawyers London
Trusts have been used for generations to avoid or solve problems in two main areas: taxation and family matters. Osbornes Law offer specialist trust advice to high net worth families. Our expert trust lawyers have a wealth of experience in assisting those with significant international assets.
“I have found her to be extremely efficient, She is very fair in her dealings with all parties and she navigates the conflicting demands imposed on her by opposing parties in a supremely fair fashion.”
“A well-established contentious trusts and probate team.”
What is a Trust?
A trust is the formal transfer of assets (e.g. property, shares or money) to a small group of people or to a trust company on the basis that the assets are held by the trustees for the benefit of others (the beneficiaries). Trusts can be made in your lifetime, usually by a Trust Deed, or alternatively, a trust can be created in the form of Will Trust. Trusts separate the legal and beneficial ownership of assets and this is their unique characteristic; the trustees are the legal owners but the beneficial owners are the beneficiaries.
Why make a Trust?
To Save Tax
During your lifetime you can put assets which you no longer need into a trust to reduce your wealth and minimise Inheritance Tax on your death. Assets can be placed in trust for your grandchildren either during your lifetime or after your death thereby jumping a generation which reduces your own childrens’ exposure to Inheritance Tax.
Family Reasons
Assets can be placed in trust to prevent young people receiving or inheriting too much wealth too early in their lives or at an inappropriate time. You may wish to give a life interest to a family member or dependent person rather than make a gift of assets to them outright. A trust is a suitable mechanism for this arrangement. On the death of the lifetime beneficiary, the funds can return to you or pass to your family.
Types of Trust
There are many types of trust and we can advise you on the most appropriate form of trust to suit your purposes.
The Discretionary Will Trust
This was often used in the Wills of married couples to ensure that the nil rate band available to everyone, i.e. the amount which any person can leave without payment of Inheritance Tax, was not wasted on the first death because of the spouse exemption from Inheritance Tax rule. This is no longer necessary since the introduction of the transferable nil rate band between spouses but still has other uses. For example, in preserving assets against the risk of them being used to fund care home fees.
Interest in Possession Trusts
This is a fixed interest or life interest trust which can also be used in a Will. For example, one person can enjoy the assets placed in a trust for life, i.e. receive the income, whilst the capital in due course passes to others, perhaps children of a first marriage.
Discretionary Trusts
A discretionary trust may be appropriate if you have identified a group of people you wish to benefit but are unsure what their circumstances will be in the future, i.e. who will require a greater share of the trust than the others.
Disabled or Principal Beneficiary Trust
This is a useful mechanism if any of your beneficiaries are unable to look after their own affairs and are in receipt of state benefits. Assets can be placed in a form of discretionary trust and benefits can be preserved. This type of trust enjoys favoured tax treatment.
A Charitable Trust
You can create your own charity either in your lifetime or on death by creating a charitable trust which receives favoured tax treatment. Find out more about leaving money to charity in your will.
Lifetime Gifts
As clients get older they need to consider their financial circumstances as a whole. When thinking about Wills, it is sensible to consider the tax advantages of making lifetime gifts including gifting property to children or others. Gifts made more than seven years before death are exempt from Inheritance Tax and do not form part of the donor’s estate, provided no benefit is reserved in the asset by the donor.
Also see:
- A Guide To Will Trusts
- A Guide to Asset Protection Trusts
- A Guide to Life Interest Trusts
- Inheritance Tax Planning
- Trust Disputes
Specialist Lawyers for Trusts
Our specialist lawyers for trusts advise on these and other tax planning and tax-saving opportunities either independently or in conjunction with clients making their Wills. We focus on preserving and enhancing clients’ assets by advising on tax and succession planning. This often includes transferring assets from one generation to another, not necessarily the next, in a structured way to minimise tax liability and other problems.
Speak to a trust lawyer today
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We'd like to thank all of you for the excellent work you've done with regards to our case. We're going to suggest Osbornes Law and in particular Jan, Angela and everyone else we worked with to others in similar situations. We express our sincere gratitude to everyone we worked with for their professionalism and great work! We're glad that we had the best law firm and the best team on our side!
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A full service team which punches above its weight, dealing with a range of UK and international clients.
Very high standards of client care, efficient and very good collaboratively when working for clients in common with our firm.
Jenny Walsh is a full member of STEP and a key figure who specialises in non-contentious private client matters, often with a cross-border dimension.
The nimble team at Osbornes acts for trustees, executors, personal representatives, and other high-net-worth individuals.
Excellent team doing high-end work. Would always consider for referral and conflict work.
Jan Atkinson heads up the team and is a respected senior lawyer.
A well-established contentious trusts and probate team.
An ambitious team who work hard for their clients.
The calm and experienced Jan Atkinson is at the helm of the team.
Osbornes acts for a wide range of high-net-worth individuals, families, and trust companies in complex estate and trust litigation.
Osbornes has a practice which is big enough to take on substantial cases and small enough to retain a personal touch.
With a deep sense of gratitude, I want to thank you all for your diligent and comprehensive contributions and assistance in my legal travails.
I am sure you know how stressful legal proceedings can be for everyday laypersons like myself. Thankfully, you have been a bastion of support and reassurance during these trying months, and I struggle to find the right words to express my sincere gratitude.
Thank you from the bottom of my heart.
A private client team offering a range of services to assist with private client matters including trust and probate services. A friendly approach with a keen eye for detail.
I have been a client of this firm for a number of years and been impressed by particular individuals, the care and thoughtfulness with which they have worked.
An efficient firm which provides an excellent service at highly competitive charging rates.
The team receives a steady flow of instructions from high-net-worth individuals and families on an array of tax planning, wealth preservation, estate and succession planning issues
I think this firm has excellent strength and depth in this area, for both contentious and non-contentious work, and they can hold their own against any other firm.
I have found them to be incredibly knowledgeable and pragmatic in settling claims for their clients.
The contested estates team is strong with talented young solicitors doing good quality work
The nimble team acts for a broad range of high-net-worth individuals and families on a variety of complex estate and trust litigation.
Osbornes has a ‘strong private client department’ and ‘the firm seems to be going from strength to strength’.
Thank you for managing my case, following a complete fiasco before I contacted Osbornes Law. I know that the work involved was rather complicated, possibly frustrating and often time consuming. I was impressed with your current knowledge of the case when we had the first meeting at your office. I regard a face-to-face meeting as imperative in developing positive relationships. Members of your team, such as Alex and Ella were impressive too, with their efficient, friendly manner of working.
I am grateful for your patience, advice and excellent support at a difficult time. Hopefully it won't be necessary to contact you again regarding this matter! I will definitely use Osbornes Law in the future."Commitment to the cause, willingness to go the extra mile and complete command of the area mean they always give the right advice and do the best job possible."
"They are completely committed to doing the absolute best they can for every single client. They are bright, knowledgeable and innovative."
"Most of the team conduct both contentious and non-contentious work, giving them a solid grounding in estate and trust managing principles including tax that is valuable in conducting litigation."
"This team perhaps does not have the reputation in this area it ought to have. It quietly handles some very big, high profile disputes. It has an expert team to do so and provides sensible pragmatic advice to its clients."
"The department handles complex and high-value litigation on behalf of individuals and trust companies and many of its cases have a cross-border dimension."
"The agile team at Osbornes acts for a wide range of high-net-worth individuals and families in complex estate and trust litigation, advising on a wide array of contentious trust and estate matters."
"I wish to thank you for your advice, efficiency and professionalism throughout which has been greatly appreciated."
"I am proud to be a private client of Osbornes Solicitors LLP, a client of many years. I appreciate the swift and efficient work of the Private Client Department Team."
"Jan Atkinson, with her steely, steady, calming presence, instils confidence in the most highly-strung of us clients. With her masterful knowledge of the law, old and new, and its application, Jan can navigate through the most complex of cases to a successful end."
"I find Osbornes’ client-friendly approach welcoming and refreshing"
"A medium-sized London firm dealing with big litigation and doing it extremely well because of a depth of expertise and experience."
My family had the pleasure of Jan Atkinson working with us on the will and probate issues of [my mother's] estate in Camden and Ireland after she passed on last year. Jan and her assistant(s) offered us a fantastic service at a sad time.
"Jan Atkinson stands out for her wide-ranging knowledge and experience of estates; whatever problem you throw at her, she has seen it all before and is able to find a creative and sustainable solution. She has exceptional commitment to her clients and explores every avenue to find the best solution for them"
The team is very caring, experienced and detailed and was clear about the next steps and offered very helpful advice and suggestions
Jan Atkinson has extensive experience in private client matters, which underpins her excellent skills in the contentious probate area. Plus she is strong on international matters
A small but formidable team, punching above its weight. Jan Atkinson is a seasoned pro. Approachable but no push-over
"They are an outstanding firm to work with. They are consistently impressive in their work."
"Elspeth Neilson is very reliable and practical."
"The team frequently deals with cross-border estates for high–net-worth individuals."
"The team were extremely professional in putting my needs first. There was a joined-up approach to catering for the client, and all lawyers involved were briefed and constructive."
The situation was handled by your extremely competent, efficient hands - I would not hesitate to recommend Osbornes to others.
"Service prompt and effective. I have absolute confidence in Maggie."
I am happy with the service that I got and would recommend you to other potential clients.
I found Osbornes always very helpful and efficient.
We are very pleased with the services of Osbornes. Highly professional and through with close attention to detail.
I would highly recommend Jan Atkinson in any probate matter and Osbornes Solicitors in any other legal matters.
Jan Atkinson is a very proficient lady whom I would highly recommend to anyone involved in probates.
Thanks for all your work and explaining everything so clearly. For any legal matters in the future I would not hesitate in instructing Osbornes.
We have found your service to date as the most informative we have come across.
Osbornes Solicitors always responded promptly to any request for information I had.
“Geoffrey’s affairs were dealt with just the right combination of friendliness and professionalism, which really helped.”
Jan Atkinson is confident with a straightforward approach. Her practice covers both contentious and non-contentious matters, including wealth planning and estate administration.
I would like to thank everyone in my case for the excellent job!
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The Wills & Probate Team View the whole team
Jan Atkinson
Partner
Private ClientSuzanna Baker
Partner
Private ClientKatie de Swarte
Partner
Private ClientElspeth Neilson
Partner
Private ClientJenny Walsh
Partner
Private ClientFlorence Arbuthnott
Senior Associate
Private ClientLesley Boreham
Associate
Private ClientElla Coles
Paralegal
Private ClientJoseph Gunn
Associate
Private ClientChloe Knight
Paralegal
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