When it comes to estate planning, ‘mirror Wills’ are fairly common between spouses. But, what is the difference between mirror Wills and mutual Wills?
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When you create a trust you set up a holding device dividing ownership between trustees and beneficiaries. Trustees legally own and manage assets in a trust for the benefit of beneficiaries.
It's key that you draw up an effective trust deed which clearly sets out the responsibilities of trustees and the rights of beneficiaries or the entire system is open to abuse.
We understand what matters in this area and can help you create and administer a trust, ensuring the rights and interests of your beneficiaries are protected. Our team is made up of experienced private client lawyers who are experts at what they do.
Our expertise
We are experienced in creating trusts for the purposes of asset and wealth protection which allow you to hand over control of assets to people you trust so they can ensure your loved ones have a secure future. Our approach is to draw up trust deeds which prevent beneficiaries from squandering the trust property and minimises the risk posed by creditors in the event of future divorce or financial difficulties.
We also have a successful track record in setting up trusts for tax planning purposes. This allows you to take the value of assets, and any future increase in value, out of your estate to reduce your liability to inheritance tax whilst retaining control of the assets themselves.
In addition, we help with Pension Death Benefit Trusts and advise on the creation of charitable trusts which can serve as a tax efficient means of providing charitable gifts over a number of years.
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