Trusts Archives - Franklins Solicitors https://www.franklins-sols.co.uk/faq_category/trusts/ Thu, 05 Mar 2026 10:39:19 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.5 How long can a Trust last? https://www.franklins-sols.co.uk/insights/faqs/how-long-can-a-trust-last/ Thu, 21 Aug 2025 15:44:31 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6157 The duration of a Trust depends on how it's set up. Many trusts are designed to last until a specific event occurs, like a beneficiary reaching a certain age, while others can run for up to 125 years under current UK law.

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]]> The duration of a Trust depends on how it’s set up. Many trusts are designed to last until a specific event occurs, like a beneficiary reaching a certain age, while others can run for up to 125 years under current UK law.

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]]> Do Trusts need to be registered? https://www.franklins-sols.co.uk/insights/faqs/do-trusts-need-to-be-registered/ Thu, 21 Aug 2025 15:44:09 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6155 Some Trusts must be registered with HMRC’s Trust Registration Service, especially those with UK tax liabilities. Even some non-taxable trusts now require registration under anti-money laundering regulations. We can advise you on whether registration is needed.

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]]> Some Trusts must be registered with HMRC’s Trust Registration Service, especially those with UK tax liabilities. Even some non-taxable trusts now require registration under anti-money laundering regulations. We can advise you on whether registration is needed.

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]]> Can I be a trustee and a beneficiary of the same Trust? https://www.franklins-sols.co.uk/insights/faqs/can-i-be-a-trustee-and-a-beneficiary-of-the-same-trust/ Thu, 21 Aug 2025 15:43:49 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6153 Yes, in many cases you can be both a trustee and a beneficiary. However, care must be taken to manage any potential conflicts of interest and the Trust must be drafted carefully to comply with legal duties.

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]]> Yes, in many cases you can be both a trustee and a beneficiary. However, care must be taken to manage any potential conflicts of interest and the Trust must be drafted carefully to comply with legal duties.

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]]> What are the risks of putting assets into Trust? https://www.franklins-sols.co.uk/insights/faqs/what-are-the-risks-of-putting-assets-into-trust/ Thu, 21 Aug 2025 15:43:30 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6151 Once assets are placed in Trust, you no longer legally own them. Trusts can carry tax implications, including inheritance tax charges. Selling Trust assets may be more complex and if trustees act improperly, legal action to resolve issues can be costly.

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]]> Once assets are placed in Trust, you no longer legally own them. Trusts can carry tax implications, including inheritance tax charges. Selling Trust assets may be more complex and if trustees act improperly, legal action to resolve issues can be costly.

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]]> Can property in a Trust be sold? https://www.franklins-sols.co.uk/insights/faqs/can-property-in-a-trust-be-sold/ Thu, 21 Aug 2025 15:43:10 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6149 Yes. Trustees can sell trust property if the Trust allows it and doing so is in the best interests of the beneficiaries.

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]]> Yes. Trustees can sell trust property if the Trust allows it and doing so is in the best interests of the beneficiaries.

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]]> Who manages the assets in a Trust? https://www.franklins-sols.co.uk/insights/faqs/who-manages-the-assets-in-a-trust/ Thu, 21 Aug 2025 15:42:50 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6147 The appointed trustees are legally responsible for managing and distributing the trust assets according to the terms of the Trust.

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]]> The appointed trustees are legally responsible for managing and distributing the trust assets according to the terms of the Trust.

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]]> When does a Trust take effect? https://www.franklins-sols.co.uk/insights/faqs/when-does-a-trust-take-effect/ Thu, 21 Aug 2025 15:42:32 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6145 A Trust becomes effective once it has been properly signed, dated and, if applicable, registered.

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]]> A Trust becomes effective once it has been properly signed, dated and, if applicable, registered.

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]]> Are there rules about what can go into a Trust? https://www.franklins-sols.co.uk/insights/faqs/are-there-rules-about-what-can-go-into-a-trust/ Thu, 21 Aug 2025 15:42:11 +0000 https://franklins.global-exposure.co.uk/?post_type=avada_faq&p=6143 Yes. The law places restrictions on certain assets. Some investments, company shares, or mortgaged properties may not be suitable for Trusts. Always seek legal advice before transferring assets.

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]]> Yes. The law places restrictions on certain assets. Some investments, company shares, or mortgaged properties may not be suitable for Trusts. Always seek legal advice before transferring assets.

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