Trusts and Asset Protection
Trusts Solicitors in Gloucestershire
If you are looking for advice regarding trusts and asset protection, our specialist legal team at Langley Wellington can help you. We provide expert advice and guidance on all types of trust arrangements.
If you are a trustee, the responsibilities can be demanding and professional advice is required to avoid incurring liability. We offer bespoke legal advice for trustees on their obligations and duties.
For you, your family and your business. To speak with our Trusts and Asset Protection team, please call 01452 521286, email us at lawyers@langleywellington.co.uk or make an online enquiry.Â
Trust Structures & Succession Planning
A trust is a legally enforceable arrangement that manages assets (money, investments, land, or buildings) for the benefit of the trust beneficiaries. The named trustees manage a trust. Those involved in a trust are:
- the ‘settlor’ – the person who puts assets into a trust
- the ‘trustee’ – the person who manages the trust
- the ‘beneficiary’ – the person who benefits from the trust
Experienced Trusts and Estates Lawyers
A robust and well-structured trust has many benefits for all involved. However, trust law is extremely complex, so seeking appropriate guidance from a qualified legal professional is vital. Our specialist private client team at Langley Wellington has the knowledge and expertise to guide you through the various types of trusts available. We will take the time to understand your objectives, advising you on the most suitable trust for your requirements.
Our experienced trusts and estate lawyers in Cheltenham and Gloucester have decades of experience between them, dealing with many different assets in the UK. As part of your succession planning process, we can advise on trust structures to shelter assets from inheritance tax or life events such as divorce and bankruptcy. This may also be important in planning for the succession of the family business.
Along with providing continued legal guidance to existing trustees, we can also act as trustees and on tax-efficient ways to manage the trust.
We can advise on all forms of trusts and trust matters, including:
- Family Trusts & Asset Protection
- Discretionary Trusts
- Will Trusts
Regardless of the complexity of your situation, our expert private client team can help.
Get in Touch
To find out more about setting up a trust or advice on an existing trust, contact us to speak to our experienced trusts and estates lawyers.
Call us on 01452 521286 , email us at lawyers@langleywellington.co.uk or make an online enquiry. We have two office locations across Cheltenham and Gloucester. To find out more contact us.
Our Fees
Langley Wellington are committed to providing cost-effective, competitive services, and we will always give you a clear indication of our charges. Some of our advice can be provided as one-off fixed costs, and we will discuss this with you once we fully understand your requirements.
How can we help?
Our Fees
Langley Wellington are committed to providing cost-effective, competitive services, and we will always give you a clear indication of our charges. Some of our advice can be provided as one-off fixed costs, and we will discuss this with you once we fully understand your requirements.
A Lasting Power of Attorney (LPA) is a legal document. It lets you appoint one or more people you trust, called attorneys, to make decisions for you if you lose the ability to make those decisions yourself. There are two types of LPA; one covers property and financial affairs; and the other covers health and welfare. You can choose to put one in place or both. When you’ve made your lasting power of attorney (LPA), it has to be registered with the Office of the Public Guardian (OPG) before anyone can use it.
That depends on the type, and on what you decide when you set it up. A property and financial affairs LPA can be used as soon as it is registered (with your permission) with the OPG, with your permission, or only once you lose capacity. A health and welfare LPA is different and can only be used once you can no longer make the decision yourself.
Registering an LPA takes longer than most people expect. The OPG’s target for registering an error-free LPA application is around 8 – 10 weeks. However, in practice, registration is currently running closer to 12-16 weeks, and the process tends to be much slower during peak periods. Once registered, the document is ready for use when needed.
The OPG currently charges a £92 registration fee per LPA. Solicitor’s fees are payable on top if you are using a solicitor to draft and register the document for you. Fee reductions and exemptions are available for those on a low income or certain benefits. Find out more about the registration process here: Gov.UK/Register a Power of Attorney.
You can. The forms are free to download, and the OPG provides an online tool. However, the forms are long, and small errors are common reasons for rejection. Latest OPG figures show that during 2023 to 2024, around 15% of LPA applications contained mistakes and almost 51,000 were rejected. A solicitor will make sure your LPA is completed and signed correctly the first time. We look at this in more detail in our blog, ‘Do You Need a Lawyer for a Power of Attorney?’
Your attorney can be anyone over 18 whom you trust to act in your best interests. Most people choose a spouse, a civil partner, an adult child, or a close friend. You can appoint more than one attorney and specify whether they must make decisions jointly, or whether they can act independently of each other.
Yes, as long as you still have mental capacity. You can make changes or revoke your LPA at any time. If the LPA has already been registered, you will need to follow the OPG’s revocation process, but the right to change your mind stays firmly with you.
Without an LPA, your family does not automatically have the right to deal with your finances or make decisions about your care, even if they are your next of kin. They would need to apply to the Court of Protection to be appointed as your deputy, which is slower and more expensive than relying on an LPA. We explain the differences below and in our blog on deputyship orders.
Our Wills, Trusts & Probate Team
The Wills and Probate team will be happy to speak with you regarding all areas of wills, probate, inheritance planning and trusts.
You can find out more about our team by clicking on the links below.
Contact our Solicitors
Langley Wellington is a forward-thinking law firm acting for clients nationwide. Whatever your legal requirements, we are here to help.
Get in touch with our Solicitors today. Call one of our offices on the numbers provided below, or fill out our contact form here.Â
Gloucester Office: 01452 521 286
Cheltenham Office: 01242 269 998
