There are a variety of reasons why you may wish to consider setting up a Trust, such as:
- Protecting assets;
- Assisting vulnerable beneficiaries;
- A Personal Injury claim resulting in compensation.
Frequently Asked Questions
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Do I need a Power of Attorney?
Power Of Attorney
There are various situations in which a Power of Attorney can be useful.
POA can cover circumstances in which you are involved in a serious accident, or become seriously ill, and either find it difficult or are no longer able to deal with your own affairs. Your Power of Attorney can remain in place indefinitely until specifically...
Who should be a Trustee for my Trust?
Trusts
You can choose almost anyone to be Trustee when setting up a Trust, including yourself, but we would not recommend that you act as Trustee on your own.
It is important to choose people you trust as they will be responsible for managing the Trust and will have several duties to follow, including: To act in the best interests of Beneficiaries;To devote time to Trust affairs. We would generally recommend at...
What is a Trust?
Trusts
A Trust involves three groups of people:
The “Truster” – this is the person who is setting up the Trust;The “Trustees”- these are the people who are responsible for administering the Trust for the benefit of the Beneficiaries;The “Beneficiaries” – these are the people who are entitled to benefit fr...
When should I make a Will?
Wills
Not only is the concept of family and assets extremely flexible, but your situation is likely to change over time.
At Friends Legal, we cater for every age and stage in the Will-making process, and our fixed fee offering includes Will reviews to ensure that your Will reflects your wishes at every stage of your life’s journey.
