Our Trust team at Coles is made up of specialists who work with Trusts on a regular basis, whether set up in a Will or during someones lifetime.
A trust is a way of managing assets (money, investments, land or buildings) for people. There are different types of trusts and they are taxed differently.
Trusts are set up for a number of reasons, including:
From basic Bare trusts through to complex discretionary trust arrangements, our team can create bespoke Trust documents for you.
The trustees are the legal owners of the assets held in a trust. Their role is to:
If the trustees change, the trust can still continue, but there always has to be at least one trustee.
We can assist with adhoc advice to trustees through to a full management service. We can also act as trustees.
Trust administration and taxation is an heavily regulated and complex area and it is essential that those providing advice and acting as Trustees are experts in this area. All too often we become involved in trusts that have been incorrectly administered or taxed leading to HMRC penalties and significant work to retrospectively piece together the trust history and create records.