Setting up Trust

Trusts Discussion
1

Hello all

My mother is setting up a trust.

She is going to name my sister and I as trustees, with her as the beneficary. When she dies we will become the beneficaries.

Can she stipulate at point of setting up - when she dies, my sisters children automatically become the trustees and then when either myself or my sister dies they automatically take our place as the beneficaries?

If she can stipulate this now, can it be changed in the future?

Can a limited company be held in trust?

Thanks

2

Go and see a professional…specialist solicitor or other suitablly qualified/experienced estate planner.

For a start the Trust would need to be registered with HMRC. And what is your mother trying to achieve? Would the Trust even achieve those aims…in many cases they don’t.

2 Likes
3

Thanks for replying. She is trying to ensure assets get passed down to the grandchildren later on.