UK Trust Services

What is a trust?

Fortress provide an array of trust solutions, from creating trusts, acting as professional trustees and reviewing existing trust structures.

If you are looking at doing some trust planning, as a starting point you may be thinking, what is a trust?

A trust is a way of managing and housing assets (money, investments, land or buildings) for people and is commonly used in estate planning.

Trusts involve:

  • the ‘settlor’ – the person(s) who puts assets into a trust
  • the ‘trustee’ – the person(s) who manages the trust
  • the ‘beneficiary’ – the person(s) that can benefit from the trust

What are trusts for?

Trusts are set up for a number of reasons, including:

  • to control and protect family assets
  • when someone is too young to handle their own affairs
  • when someone can not handle their affairs because they are incapacitated
  • to pass on assets while you’re still alive (lifetime gifting)
  • to pass on assets when you die (a ‘will trust’)
  • under the rules of inheritance if someone dies without a will (in England and Wales)

There are different types of trusts and they are taxed differently. For more information, please click here.