What is the process?

If you are considering putting in place a lifetime trust, I would usually recommend undertaking estate planning more generally first. Most people don’t realise that the considerations underpinning lifetime trusts interlink significantly with your Wills. When completing the estate planning process, I will highlight to you when lifetime trusts may be beneficial for your situation.

If you are looking to put a trust in place, the process is:

1. Review meeting*:
   • This meeting will be a chance for me to fully understand your personal circumstances including: your family and important relationships, your assets and your general wishes and aims.
   • I will then discuss with you in more detail about the key considerations and and the options available. This will include:
     • Your objectives for the trust to achieve,
     • Who you wish to benefit from the trust,
     • Who you wish to act as trustees for the trust,
     • Technical considerations including:
       • The types of trusts and how they work,
       • Tax considerations,
       • Practicalities,
     • Trust compliance and administrative requirements.
   • By the end of the meeting, a plan on how best to proceed will be agreed.
2. Following our meeting: I will prepare and send out to you your draft trust deed and any accompanying documents.
3. Once approved: Once you are happy with your draft trust and any accompanying documents, final bound versions can then be signed. I will outline any further steps needed and when it should be reviewed.

*The initial Review Meeting can be virtual or in person. I also seek to be flexible where possible with timings f you are unavailable during usual office hours. I can offer evening and weekend appointments as agreed in advance.

Who is it suitable for?

I would recommend that any trusts are completed following a review under the Estate Planning Service.