The most common form of trust is where someone (known as the “Settlor”) makes a transfer of property during his lifetime (an “inter-vivos” gift) to another (known as a “Trustee”) upon whom there is a binding obligation to deal with the property over which he then has control (the “Trust Fund”), for the benefit of persons (the “Beneficiaries”) of whom he may also be one and which any of whom, may enforce the obligation(s) placed upon him.
Trusts take several forms and the nature of the trust varies depending on the needs of the client and the purpose behind setting up the trust. The types of trust available include, but are not limited to:
- Fixed interest
- Interest in possession
- Accumulation and maintenance
Crossman has the experience and specialist knowledge to ensure that the trust structure is appropriately tailored to a specific client’s circumstances and required objectives.
We are able to provide :
- assistance with initial trust establishment, in conjunction with discussions with the settlor
- ongoing trustee services
- ongoing administration services, including bookkeeping and accounting
Crossman undertakes ongoing monitoring and review of all trust arrangements to ensure that they remain appropriate in light of any changes in legislation.