Expert Trust & Estate Planning Advice
Trusts play a crucial role in estate planning, helping individuals and families protect and manage wealth for future generations. At Ward Goodman, we offer expert guidance on setting up and managing trusts, ensuring they are structured correctly to provide tax efficiency, asset protection, and financial security.
Whether you’re looking to establish a family trust, manage an existing trust, or need trustee services, our experienced advisors provide tailored support. We help you navigate the complexities of trust law, ensuring compliance with legal and tax obligations while safeguarding assets for beneficiaries.
With our independent advice, you can be confident that your wealth is managed efficiently and in accordance with your wishes.
We provide trust and estate planning services from our offices in Ferndown and Shaftesbury, supporting clients throughout Dorset. Our local presence means we’re available to meet face-to-face (or remotely) and offer personalised advice to help you protect and pass on your wealth with confidence.
Our Trust & Trustee Services
Trust Creation & Maintenance
Expert advice on establishing and maintaining trusts, ensuring they meet legal requirements and align with your financial and estate planning goals.
Trust Management & Administration
Ongoing support to manage trust assets, ensuring compliance with legal and tax obligations while protecting beneficiaries' interests.
Family Trusts & Wealth Protection
Helping families safeguard wealth and pass assets to future generations in a tax-efficient and legally secure manner.
Charitable Trusts
Guidance on setting up and managing charitable trusts to support philanthropic goals while ensuring tax efficiency.
Trustee Services
Providing professional trustee services to ensure trusts are managed responsibly, impartially, and in accordance with your wishes.
How We Support You with Trusts & Trusteeship
Expert Trust Management
Our specialists provide expert advice on the creation, management, and administration of trusts, ensuring they are structured in the most tax-efficient way.
Asset Protection & Inheritance Planning
We help individuals and families safeguard assets for inheritance planning, charitable giving, or securing wealth for future generations.
Professional Trustee Services
Our team offers professional trustee services, ensuring trusts are managed responsibly and in the best interests of beneficiaries.
Ongoing Support & Compliance
From tax-efficient planning to legal compliance, we provide ongoing support to ensure your trust operates effectively and aligns with your long-term financial goals.
Meet Our Trust Experts
Our trust specialists are dedicated to providing tailored advice, ensuring your assets are protected and managed with expertise and care for future generations.
Frequently Asked Questions
Trusts are an essential part of estate and financial planning, offering a structured way to protect and manage wealth. Whether you’re setting up a trust for inheritance planning, asset protection, or charitable giving, expert guidance ensures your trust operates effectively and aligns with your long-term goals.
What is a trust, and how does it work?
A trust is a legal arrangement in which assets are managed by trustees for the benefit of named beneficiaries. In the UK, trusts can be used to protect wealth, control how it is distributed, reduce tax liabilities, and safeguard assets from certain risks. The trustee manages these assets according to the terms of the trust deed.
What are the benefits of setting up a trust?
The main benefits of a trust include tax efficiency, asset protection, and control over when and how beneficiaries receive their inheritance. Trusts can help avoid probate delays, protect assets for future generations, and provide flexibility in estate planning.
What is the role of a trustee?
A trustee is legally responsible for managing the trust’s assets in the best interests of the beneficiaries. This includes keeping accurate records, ensuring compliance with trust law, filing necessary tax returns, and following the trust’s terms. Trustees must act with honesty, fairness, and due diligence.
How are trusts taxed in the UK?
Trust taxation in the UK depends on the type of trust. Different rules apply to income tax, capital gains tax, and inheritance tax. For example, discretionary trusts often face higher tax rates, while bare trusts are taxed at the beneficiary’s personal rate. Professional advice can help ensure tax efficiency and compliance.
Can I change or update a trust after it has been created?
Some trusts, such as discretionary trusts, allow amendments to the terms, while others, like fixed trusts, do not. Changes usually require agreement from the trustees and sometimes the beneficiaries. A trust deed review by a legal or tax professional can confirm your options.
Do trusts avoid inheritance tax in the UK?
Trusts can help reduce inheritance tax (IHT) liabilities, but they do not automatically eliminate them. The tax treatment depends on the trust type, the value of the assets, and when they were transferred into the trust.
What are the different types of trusts in the UK?
Common types include discretionary trusts, bare trusts, interest in possession trusts, and charitable trusts. Each has different rules on taxation, control, and beneficiary rights.
In the UK, can a trustee also be a beneficiary?
Yes, in the UK a trustee can also be a beneficiary, but they must act impartially and prioritise the interests of all beneficiaries, not just their own.
How do I set up a trust in the UK?
Setting up a trust involves choosing the trust type, appointing trustees, drafting a trust deed, and transferring assets into the trust. Professional advice ensures the trust is structured correctly and tax-efficiently.
How long can a trust last in the UK?
Most UK trusts can last up to 125 years, though many are designed for shorter periods, depending on the terms set out in the trust deed.
The Process
Initial referral or inquiry
Whether you’ve been referred or inquired yourself, our team will reach out to you in a timely manner
Free consultation
We offer a no-cost, no-obligation meeting at one of our offices, or over the phone
Quote and setup
We’ll provide you with a tailored quote and when you’re ready, our tax advisors will begin services
Book a Meeting
If you would like to discuss further, please book a meeting with an experienced member of our team. Simply let us know when’s best for you and we will get in touch to arrange a suitable time.
Why Choose Ward Goodman?
Client satisfaction is paramount to us. We have a broad range of clients, and we endeavour to offer them the best tax planning service possible through continuous improvement and focus on doing things right the first time.
Experienced Advisors & Accountants
Our Dorset-based team can advise and support any size of business locally or nationwide.
Bespoke Financial Advice & Tax Planning Service Packages
Flexible, bespoke service covering all aspects of tax planning.
Access to a Full Team of Finance Experts
From our Financial Advisors to Pension Advisors.
Our Awards and Accreditations
Ward Goodman’s excellence in accounting and tax advice is validated by notable awards and accreditations within the UK financial industry.
AAT Qualified
Xero Certified
ICAEW Membership
Partnerships
Other Services You May Be Interested In
Our investment planning services are tailored to help you maximise returns while managing risk.
We help individuals and families navigate the complexities of funding care, ensuring your financial resources are structured efficiently to meet future needs.
We provide expert financial advice to help you secure the most suitable and cost-effective finance solutions for your property goals.
Our pension and retirement planning services are designed to help you secure a comfortable and financially stable future.
