Trusts for business owners
Trusts for Business Owners
Use trusts for business owners if you a business trust to protect business assets and smooth the transfer of your business between generations.
Here you can find out information about what they are and why they are so useful.
Business succession can be a difficult issue for many family-run businesses.
There may be competing or conflicting interests between the family members. When a business owner dies disputes about succession can cause great harm to the business unless the right arrangements are in place.
Trusts for business owners are used to protect and manage their business assets. a fair and harmonious distribution of wealth within the family.
Employee Benefit Trusts are used to provide a wide range of benefits to employees including, employee share schemes, employee accident benefits or to provide welfare or education and training support for employees and their families.
We offer services that provide tailor-made arrangements at an affordable cost – particularly suited to the requirements of SMEs.
Trusts For Disabled Adults and Children
If you have suffered serious injury in an accident or through medical negligence you may be entitled to compensation. The compensation payment is usually intended not just to compensate you for pain and distress you have suffered but also to provide financial support in the future. However, there can be many reasons why it is not possible or advisable for the compensation payment to be made to you directly. If that is the case then setting up a trust to receive the payment provides a sensible solution.
A Personal Injury Compensation Trust is often used to receive a compensation payment for example if the injured person is receiving means tested benefits, or no longer has mental capacity, or is too young to manage their own money.
Trusts for Children are commonly used to protect and manage assets for children and young adults.
In the case of a disabled child a trust may be desirable to protect their assets throughout their lifetime and be used to fund a care package or purchase of specialist equipment or adapt a property.
Advice is essential if damaging mistakes are to be avoided and trustees will need access to on-going advice and legal and financial expertise to ensure that the trustees act only within the limits of their authority and do not expose themselves to personal liability and the beneficiaries to risk.
How Can We help?
Rosamund Evans is a full member of the Society of Trust and Estate Practitioners and holds the STEP Diploma in Trust and Estate Administration (England and Wales). She is experienced in the creation and management of a wide variety of trusts.