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  4. Trusts- Protecting your Assets

Trusts- Protecting your Assets

For many of our clients, trusts are a useful way to assist in tax planning and to preserve assets. There are various types of trusts and they can be created during your lifetime or by your will. At QualitySolicitors Brennans, we offer help and advice regarding the administration of trusts for clients across Wallsend, Whitley Bay and the whole of Tyneside.

Trusts can be used to safeguard your interests if you’re buying a house with someone, especially if you aren't married. They can also be used to protect your assets in case of bankruptcy or divorce and, if you have children, to ensure that their inheritance is protected when your estate passes to your surviving spouse. If you’re a grandparent, you might choose to use a trust to provide for your grandchildren’s education or help with their first home. We call these Family Asset Protection Trusts.

  Click here for our free Brennans guide to Family Asset Protection Trusts


If you're a business owner, a trust can allow you to advantage of special provisions for business assets. An asset protection plan can help business owners to shield their assets from potential risks by placing them in the control of a Trustee.

Our specialist team are here to guide both you and your family through each stage of the legal process, providing advice and support and answering any questions you may have about whether or not a trust is right for you. Our first free advice promise guarantees you speak to the right professional free of charge. Contact us on 01912 836 413 or drop by our Wallsend office to speak to us today.

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News and media

  • News
    • Dementia Tax –What is it?
      Posted on May 22, 2017
      The phrase Dementia Tax is the one being applied to the Conservative Party’s proposals for the funding of Social Care, if as seems likely they are re- elected on June 8th.

      The current position is that a person going into residential care must leave their home to obtain the care they need and the care is very expensive. This justified the forced sale of the main residence. Thousands of people every month are forced to sell their homes to pay for residential care under the current scheme.
      Read more...
    • Dementia Tax –What is it?
      Posted on May 22, 2017
      The phrase Dementia Tax is the one being applied to the Conservative Party’s proposals for the funding of Social Care, if as seems likely they are re- elected on June 8th.

      The current position is that a person going into residential care must leave their home to obtain the care they need and the care is very expensive. This justified the forced sale of the main residence. Thousands of people every month are forced to sell their homes to pay for residential care under the current scheme.
      Read more...
    • Don’t Leave Your Money to the Taxman!
      Posted on April 11, 2017
      At the moment you can leave as an individual £325,000 free of inheritance tax – 650,000 as a married couple. From 6 April 2007 new allowance is being introduced which is often referred to as the main residence allowance. Initially the allowance will be limited to the first £100,000 of equity in your home, but will increase by 25,000 a year and by 2020 it will be worth £175,000 – or £250,000 as a couple.
      Read more...

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