Asset protection trusts are used to ring-fence wealth from potential future liabilities while retaining control through trustees. In England, a solicitor in this area drafts and structures discretionary or protective trusts, arranges for the transfer of assets to the trust, selects appropriate trustees, and sets terms that limit access by creditors, within applicable tax rules. They also advise on potential inheritance tax and capital gains implications, ensure regulatory compliance, and support on ongoing administration and beneficiary matters.
What a solicitor handles in these matters
The solicitor handles the creation and management of the trust structure, drafts the deed, appoints and coordinates trustees, plans the sequence of gifts or settlements, and navigates tax implications such as IHT and CGT. They liaise with beneficiaries, trustees, and tax authorities to ensure proper administration and compliance with trust law and reporting requirements.
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