Trusts & Charities
We have extensive experience of dealing with trust and charities.
Trusts
Trusts can, and often do, crop up in all sorts of situations. Examples include:
- When two or more people own a property together there is always a trust involved. It might be very simple, like holding the property jointly or in equal shares. It can be more complex, such as a right to reside in a property for life or some other period, special provisions as to how the proceeds of sale are to be divided, and so on. A Trust is a very flexible arrangement. You should certainly give it some thought if you have an interest in property which is other than straightforward.
- Trusts can be used to make provision for children or people who for some reason cannot administer their own affairs.
- Trusts can be set up on a discretionary basis, so that the person creating the trust can leave some of the decision making to people on whom he or she can rely to look after the beneficiaries of the trust.
- Trusts can be useful at a means of mitigating Income Tax, Capital Gains Tax or Inheritance Tax.
- Trusts can also be used for setting up clubs or institutions.
We have been helping people with matters of this type for many years and we would be happy to do the same for you.
Charities
We have long experience of dealing with charities. These are often churches or Christian organisations, but we also deal with environmental bodies, protection of buildings, sports facilities and so on. Charities are often set up in the form of a trust, but other formats are possible, such as a company limited by guarantee or an informal association. If you form a new charity, it is often important to get it registered with the Charity Commission. We can help you, not only with the actual formation, but also with advice on how to meet the requirements of the Charity Commission.
There are detailed legal rules about the formation and administration of charities. We find that clients often need help with the particular rules which apply to charities entering into mortgage or property sale transactions If you think that might apply to you, get in touch with us to avoid difficulty later.
Contacts
- Chris Pennant - 01633 251801
