Property holding trusts can be straightforward, involving a simple declaration of trust specifying the ownership shares and entitlements to profits and losses. Alternatively they can be very complicated involving foreign entities and assets held through a corporate structure, with varying objectives, from supporting charitable causes or other philanthropic activities to inheritance tax planning. In each case, a trust may be set up with the intention of placing assets under its’ ownership and management. Given the wide ranging nature of property trusts and the often different objectives, it is sensible to contact us directly about these to see what we can do to assist.
It should be noted that trusts can be subject to very complicated rules on tax and as such, HUSANES LLP will not engage in any way in the giving of tax advice in relation to trusts, unless specifically agreed in the retainer. Where tax advice is required this will need to be sought from a trust tax specialist or other suitable advisor.