Setting up Trusts
Setting up Trusts
Whether you are seeking ways to reduce the amount of Inheritance Tax payable on your estate when you die, to safeguard assets for younger family members until they reach a certain age, or to protect property from potential claims following a divorce within the family, a trust could well be the ideal solution for you.
For over 50 years, Partridge Muir & Warren has been providing expert financial and estate planning advice to families, individuals and business owners the length and breadth of Surrey, always with the core aim of preserving the wealth of our clients.
As chartered financial planners, we are considered to have achieved the gold standard in our industry. This means that, as our client, you can enjoy complete reassurance of an exceptional level of service, combined with in-depth technical knowledge. We have our own in-house team of financial, legal, investment and tax planning specialists, at your service to ensure all of your needs and goals are met.
Expert trust advice, bespoke to your individual needs
For example, if someone who is very young inherits an estate, a trust can be used to safeguard the assets until such times as they are mature enough to manage the inheritance. Some people also use trusts to protect assets being passed on to those who may be considered financially irresponsible, or at risk from creditors. They can also protect assets inherited by disabled beneficiaries who may risk losing their benefits, or to prevent claims on property by divorced in-laws.
Whatever is important to you is important to us too, and when it comes to setting up a trust to protect what matters, you can expect nothing but the most personalised guidance.
Watch our video to find out what we can do for you
Specialist advice on setting up trusts, from an award-winning team
The City of London Wealth Management Award was presented to us for two consecutive years, acknowledging our quality of service. We have also been named Wealth Manager of the Year Southern England following votes from our clients and the wider public, as well as being presented with the title of Best UK Independent Adviser by Advisory HQ for the past four years.
Partridge Muir and Warren’s approach has always been a friendly, helpful and informative one. l am very happy to be part of the PMW family.
One of PMW’s underlying strengths is that every client is treated as an individual and the company ensures that it offers a specialised service tailored to the client’s needs and not one based on a ‘one size fits all’ approach. I have used PMW for over 35 years and therefore observed, at close hand, the increasing sophistication of their analytical investment approach which has resulted in wise and appropriate choices of suitable investment products, and I have been very pleased with the returns obtained. Indeed, I have recommended them to friends which, of course, is the ultimate test of a client’s satisfaction.
I have been with PMW for seven years and they have always been very professional, easy to work with and courteous. Most importantly, they cover every aspect of our financial necessities and have achieved our investment goals and objectives. They are exactly what retired investors need. Very professional but in a most pleasant way. Our meetings are always very enjoyable and I look forward to them.
I first met Simon Lewis at a pre-retirement seminar run by my employer in mid ‘90s. It was my first experience of wealth management and at that time had little surplus wealth to invest, but I signed up. I retired after a career which included long periods on contract working outside UK, and so I have neither a full state pension, nor a maximum employer’s pension. Management of our savings is thus of great importance, as regular withdrawals provide a top up to our income. Over the years we have learnt more about PMW and Simon, who is now CEO, and have come to trust their investment philosophy. It is completely tailored to our requirements, as a result of in depth and regular discussion with us. PMW have what I regard as an intensive doubting style. They do not take potential investment funds at face value, but dig under the surface to determine whether the fund is sound, before investing. They also ensure that the fund continues to perform. Not only are we able to withdraw a regular income from our savings and achieve an agreed, and satisfactory, capital appreciation, but we have also called on our funds from time to time to buy a larger item such as a new car, and the funds have been released and available quickly. We have no hesitation in recommending PMW to you. Our funds are managed prudently and professionally and we have confidence that they will manage your funds in the same way.
You have looked after me extremely well over the years and have always been approachable, helpful and easy to talk to. Thank you.
Many thanks for your continued patience and understanding, which is much appreciated.
We can’t thank you enough for this. I know your presence alone has been of great comfort to my mother; your expertise is clearly huge and so useful to us at this difficult time.
Your help and guidance was most invaluable and very much appreciated in this respect, as it was all way beyond my understanding of these matters. You have been extremely patient and understanding throughout the whole procedure. I cannot thank you enough for all that you have done for me – you were wonderful.
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“After 40 years of advice we feel that our finances are sound and being very effectively managed. We are regularly updated and meet every six months when we have a very comprehensive meeting reviewing the past and planning for the future. We are confident that future generations will be provided with their astute advice.”
Discretionary trusts leave payment entirely at the discretion of the trustees. They are often used to put assets aside for a future need, such as a grandchild’s education. They are also used in situations where beneficiaries are not capable or responsible enough to manage money themselves.
Bare trusts give beneficiaries the right to demand all of the capital and income of the trust at aby time, providing they are over 18 years of age. These are suitable for automatically directing assets to a beneficiary once they come of age.
Interest in possession trusts dictate that all trust income must be passed to the beneficiary as it arises. These can be used to pass income from, for example shares, to a widowed spouse, whilst preserving the shares themselves to pass on to the children.
Other types of trust include accumulation trusts, settlor interested trusts, disabled persons’ trusts, non-resident trusts and mixed trusts.
Disputes and conflicts of interest are not uncommon due to a lack of impartiality when making decisions about distributing income under a trust. This is why it is always wise to appoint a professional trustee who will act in an unbiased way and in the best interests of all the beneficiaries.
With members of our team Society of Trusts Estate Practitioners (STEP) qualified, you will benefit from the additional professional qualifications that demonstrate we have the appropriate expertise to carry out the role of trustee.