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We can set up and administer all types of trust and we advise on the use of trusts during your lifetime and after your death. These can cover a variety of situations from provision for your children or grandchildren to charitable trusts. We can also discuss existing trusts and the tax consequences for the future.
We offer a full Trust Management Service whether we act as Trustees or as advisors to the Trustees. This includes the preparation of annual capital and income accounts, tax returns by our ‘in-house’ Chartered Accountant, or management with the appointed financial advisor or stockbroker of the Trust Portfolio. We can advise on possible distributions from the Trust, transactions during the lifetime of the Trust and variations of its terms, including the tax consequences of such actions.
There are various different types of trust:
These can be set up during lifetime or on death. The most common use of the Discretionary Trust, until the pre-budget changes in 2007 was to save Inheritance Tax. However, it is also used to protect money/assets in cases of a minor or someone who is disabled or vulnerable in society. We have very wide experience in advising parents of disabled children and dealing with the affairs of those who lack mental capacity
Should you wish to make a gift to a registered charity
To protect children and/or surviving spouse and mitigate the expense of nursing home fees
Often for grandchildren
To protect a vulnerable person
Kitson & Trotman are very proud to support the Dorset Community Foundation. We donate any unclaimed client balances to support local good causes. Grants from the Kitson & Trotman fund are dispersed through the foundation’s Neighbourhood funding programme which addresses local issues, social problems and disadvantage due to age, illness, disability, isolation, discrimination or financial […]Browse More News >