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Trusts

Practical advice on establishing, administering and reviewing trusts to protect assets, provide for beneficiaries and support longer-term estate planning.

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A trust is a legal arrangement through which assets such as money, investments, property or land are held and managed by trustees for the benefit of one or more beneficiaries. Trusts can be used in a wide range of circumstances, including providing for children or vulnerable family members, managing assets between generations and supporting wider estate and succession planning.

There are different types of trust and the most appropriate structure will depend on what you want to achieve, who should benefit and how much flexibility the trustees should have. Common arrangements include discretionary trusts, interest in possession or life interest trusts, bare trusts and trusts established through a Will. Different structures also have different tax and administrative consequences.

DTM Legal’s Trusts & Estates team advises individuals, families, trustees and beneficiaries on the creation, administration and review of trusts. Our existing practice includes advice on discretionary trusts, life interest trusts, bare trusts and trusts for vulnerable individuals, with support designed around the client’s wider personal and financial objectives.

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Trust Legal Services

Our Trusts & Estates solicitors can provide advice throughout the lifetime of a trust, from deciding whether a trust is appropriate through to its ongoing administration or eventual closure.

Our services include:

  • Advice on whether a trust is appropriate for your circumstances
  • Preparing and establishing discretionary trusts
  • Life interest and interest in possession trusts
  • Bare trusts
  • Trusts for children and younger beneficiaries
  • Trusts designed to provide for vulnerable or disabled beneficiaries
  • Will trusts established following a death
  • Family wealth and succession planning involving trusts
  • Trusts holding property, investments or other significant assets
  • Appointing, retiring and replacing trustees
  • Advice for trustees on their responsibilities and decision-making powers
  • Advice for beneficiaries about their interests under a trust
  • Reviewing and updating existing trust arrangements
  • Trust Registration Service requirements and HMRC registrations
  • Advice on Inheritance Tax and Capital Gains Tax considerations
  • Distribution of assets and bringing trusts to an end

Why Instruct DTM Legal?

A trust should have a clear purpose. Establishing one without considering how it will operate in practice can leave trustees with unnecessary administration, create unintended tax consequences or result in an arrangement which no longer suits the family’s objectives.

Our Trusts & Estates solicitors start by understanding what you want to achieve. This might involve protecting assets for younger generations, supporting a vulnerable beneficiary, providing income to one person while preserving capital for another, or retaining flexibility over how family wealth is ultimately distributed. We can then explain the available structures and their practical implications.

We also provide ongoing support once a trust has been established. Trustees are the legal owners of trust assets and must manage them in accordance with the terms of the trust. They may also be responsible for registration, tax reporting and payment obligations. Having appropriate advice available can be particularly important where trustees are making significant distributions, dealing with property or investments or responding to changing family circumstances.

We provide:

  • Clear advice on whether a trust is appropriate
  • Trust arrangements tailored to your objectives and beneficiaries
  • Experience with family wealth and succession planning
  • Advice for trustees and beneficiaries
  • Support with trust administration and registration
  • Consideration of relevant Inheritance Tax and Capital Gains Tax issues
  • Reviews of existing arrangements when circumstances change
  • Coordination with other professional advisers where appropriate

Get in Touch

Whether you are considering establishing a trust, have been appointed as a trustee or need advice about an existing arrangement, our Trusts & Estates team can help you understand your responsibilities and the options available.

To discuss your requirements, contact us by emailing trustsandestates@dtmlegal.com or calling 01244 354 800 / 0151 321 0000.

Key Contact
Partner, Trusts & Estates
DTM Legal
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Key Considerations When Establishing or Managing a Trust

Read our Key Considerations guide to understand some of the points a solicitor may wish to discuss when responding to your enquiry. It can help you prepare the relevant information and make your initial conversation more productive.

View Key Considerations
DTM Legal
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Trusts & Estates Team

Heather Lally

Partner, Trusts & Estates
Richard Thomas

Head of Business Recovery
James Timmins

Solicitor, Property Litigation
Michelle Roby

Chartered Legal Executive, Employment & HR
Chloe Cribb

Legal Assistant, Residential Conveyancing

Frequently Asked Questions

Commonly asked questions about Trusts’ legal services.

There are several forms of trust and they can operate in different ways.

A bare trust generally gives the beneficiary the right to the trust’s assets and income once they reach the relevant age. An interest in possession trust can provide a beneficiary with an entitlement to income while preserving the underlying capital for someone else. A discretionary trust gives trustees greater flexibility to decide which beneficiaries receive income or capital and when distributions are made.

Other arrangements include trusts for vulnerable beneficiaries, Will trusts and structures combining different types of entitlement.

The right structure depends on what you want to achieve, so it is usually better to begin with your objectives rather than choosing a particular type of trust in advance.

Not automatically.

Transferring assets into a trust can itself have Inheritance Tax consequences. For many relevant property trusts, tax can potentially arise when assets are transferred into the trust, on each ten-year anniversary and when assets leave the trust. Different rules apply to some specialist types of trust.

A trust should therefore not be regarded simply as a way to remove assets from an estate for tax purposes. Its purpose, beneficiaries, tax treatment and your own future financial needs should all be considered together.

No, but many trusts do need to be registered through HMRC’s Trust Registration Service.

Registration can be required even where the trust has no UK tax liability. Exemptions apply to certain arrangements, including some trusts arising through Wills for a limited period, some life policy trusts and other specified categories.

Where a trust is liable for UK taxes such as Income Tax, Capital Gains Tax or Inheritance Tax, registration will usually be required.

We can advise trustees on whether registration is necessary and assist with the legal and administrative requirements associated with the trust.

Trustees are legally responsible for managing the assets held within a trust in accordance with its terms.

Their responsibilities can include managing investments or property, making appropriate distributions to beneficiaries, keeping records and dealing with relevant tax obligations. HMRC also places responsibility on trustees for reporting and paying tax due by the trust.

Trustees should understand the powers given to them by the trust document before making significant decisions. If there is uncertainty about a proposed distribution, investment, property transaction or other action, obtaining advice before proceeding can help avoid problems later.

A trust can provide a way of holding assets for younger beneficiaries rather than giving them outright ownership immediately.

For example, a bare trust can hold assets until a beneficiary becomes entitled to them, while a discretionary trust can give trustees greater control over how and when funds are distributed. Discretionary trusts are specifically recognised as potentially useful where a beneficiary may need financial support at different stages of their life.

Which arrangement is appropriate will depend on the beneficiaries’ ages and circumstances, the assets involved and how much flexibility you want the trustees to retain.

What our Clients Say

See what our customers have to say about their experience

Review Solicitors Stars
5/5 350+Reviews
Simon Poole
17/07/2025
Recently used DTM legal for Estate Planning and Will Making. We received a very efficient & professional service. I would highly recommend and use DTM Legal again
Ginny
19/04/2026
Worked with DTM Legal for many years and I would highly recommend. Very friendly and helpful staff, really supportive of my elderly mother during her appointment.
Layla
19/10/2023
Excellent knowledge and superb explanations.

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