“As executors of the estate and trustees of the will trust, we were always impressed by the efficiency and punctuality with which you attended to all the many issues involved.”

− Kevin Feeney, Wealth Management client

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Trusts & Executorships

At Plummer Parsons we advise trusts at any stage of their lifecycle and inform executors of their duties and help them to carry out their role.  Trusts can be an easy and tax efficient way to set aside funds for future beneficiaries.  We can offer assistance in the selection of the most suitable type of trust for your needs.

For your ease we have listed below related articles on this topic.  Where applicable there is also a list of useful links on the left hand side.

If you would like to speak to someone please do not hesitate to contact us.

 

Executorships

On the death of an individual, hopefully he or she will have left a valid Will in which are appointed one or more individuals who are known as executors.

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Trusts

A trust (settlement) arises when a person (the settlor) transfers assets to trustees, who hold the assets for the benefit of one or more persons (the beneficiaries), who will receive income and/or capital from the trust.

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Bare Trusts

A Bare Trust is probably the easiest trust to set up, it effectively means that someone holds an asset as a nominee for another person.

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Interest in Possession Trusts

An Interest in Possession Trust is one where the beneficiaries are entitled to all income of the Trust, less expenses, and trustees must pass this income over promptly.

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Discretionary or Accumulation Trusts

These are Trusts where trustees have 'discretion' (ie choice) about how to use the income of the Trust and to whom to pay the income of the Trust.

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Trusts for Vulnerable People

These are Trusts for individuals who must be either mentally or physically disabled or someone under 18 years of age who has lost a parent through death.

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