What is a trust?

A trust is a legal arrangement where you place assets, often your home, savings or other property, into the care of trustees, to be held and managed for the benefit of people you choose. Done properly, it can protect what you've worked for and make sure it passes to the right people, at the right time, rather than being lost to care costs or other risks.

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Why do people set up a trust?

Most commonly, to protect their home and savings from being used entirely on care home fees in later life. A home is often someone's most valuable asset, and after years of paying it off, it can feel frustrating to watch it sold to cover rising care costs. If you own property or have savings, you'll usually pay at least part, and possibly all, of your own residential care costs, known as self-funding. A properly structured trust can protect what you've built while still letting your loved ones benefit at the right time.

What are the alternatives to a trust, and how do they compare?

Here's how the main options compare:

Gifting your property directly

You lose control of the asset once it's given away
At risk from your children's bankruptcy, divorce or death
Can still be treated as deprivation of assets

Doing nothing

Full value of your home can be used for care costs
No say in how your estate is protected
Nothing set aside in advance for your children

A properly drafted trust

Assets held for chosen beneficiaries under clear rules
Expert advice on whether it suits your circumstances
Guidance for your trustees on managing it after you're gone

What does a trust solicitor do?

Advise on whether a trust may be appropriate for you

Advise on who should act as trustees, and who can be included as beneficiaries

Draft trust documents and complete the formalities needed to transfer assets to your trustees

Record your wishes and guidance for your trustees, so they know how you'd like the trust managed after your death

Review existing trust arrangements to make sure they still comply with current financial and trust-related legal requirements

Why choose Clowes & Co for trust advice?

Honest, no-obligation advice.

We'll tell you plainly if a trust isn't right for you, with a free initial consultation to help you decide before you commit to anything.

Experience with all types.

Family Asset Protection Trusts, Living Trusts, Family Trusts, whatever it's called, we know how they work.

Plan before it's too late.

Trust planning only works if it's done in advance, and acting early gives you more options.

Support for your trustees, too.

We record your wishes clearly, so whoever you choose knows exactly how to manage things.

Is giving my property to my children instead of using a trust a good idea?

It can carry serious risks. Once you give a property away, you lose control of it, and it can be put at risk by circumstances entirely outside your control, your children's bankruptcy, divorce, or their own death before yours. A local authority can also treat a straightforward gift as a deliberate deprivation of assets when assessing care fees. A properly drafted trust is usually a safer way to achieve the same goal.

What's the difference between a Family Asset Protection Trust and a Living Trust?

Is a trust right for me?

It depends entirely on your circumstances, and there's no one-size-fits-all answer. The key is planning in advance, before it's too late to make a difference. We offer a free, no-obligation initial consultation to talk through your situation and help you make an informed choice, honestly, even if that choice turns out not to be a trust.