Trusts play an important role in estate planning, helping individuals and families protect and manage wealth for future generations. At Ward Goodman, we provide clear, independent advice on setting up and managing trusts, ensuring they are structured for tax efficiency, asset protection, and long-term financial security.
Whether you’re establishing a new trust, overseeing an existing one, or requiring trustee services, our advisers offer practical, tailored support. We guide you through the legal and tax responsibilities involved, helping safeguard assets and ensure your wishes are carried out.
We support clients across the UK, with offices in Ferndown and Shaftesbury, offering both face-to-face meetings in Dorset and remote consultations nationwide.
Our specialists provide expert advice on the creation, management and administration of trusts, ensuring each structure is set up in the most tax-efficient way. Whether the aim is asset protection, inheritance planning or charitable giving, we work closely with individuals and families to safeguard wealth and help secure long-term financial outcomes for future generations.
We also offer professional trustee services, taking responsibility for the ongoing management of trusts and acting in the best interests of beneficiaries at all times. From meeting legal and tax compliance requirements to providing continued strategic support, we ensure your trust operates effectively and remains aligned with your wider financial goals.
Expert advice on establishing and maintaining trusts, ensuring they meet legal requirements and align with your financial and estate planning goals.
Ongoing support to manage trust assets, ensuring compliance with legal and tax obligations while protecting beneficiaries' interests.
Helping families safeguard wealth and pass assets to future generations in a tax-efficient and legally secure manner.
Guidance on setting up and managing charitable trusts to support philanthropic goals while ensuring tax efficiency.
Providing professional trustee services to ensure trusts are managed responsibly, impartially, and in accordance with your wishes.
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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.
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.
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.
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.
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.
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.
Common types include discretionary trusts, bare trusts, interest in possession trusts, and charitable trusts. Each has different rules on taxation, control, and beneficiary rights.
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.
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.
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.
Yes. A trust can be used to provide for education costs while controlling how and when funds are used. You’ll need to choose the right type of trust, consider potential tax implications (such as inheritance tax, income tax, and capital gains tax), and appoint suitable trustees. Professional advice is essential to ensure the trust is structured to meet your goals and remains compliant with HMRC rules.
Trusts can help protect assets, manage inheritance tax, and ensure your estate is passed on the way you intend. Whether you need one depends on your goals, family structure, and the value of your estate. We review your situation and advise whether a trust would benefit you.
This is usually difficult because most lenders restrict changes to ownership when a lifetime mortgage is in place. In some cases, specialist planning may still be possible. We assess your mortgage terms and explain your options for estate planning.
