You are in: Shacklocks Solicitors |How We Can Help |Care for the Elderly |Parting with Ownership but Keeping Control

Parting with Ownership but Keeping Control

For many people using a Trust as a vehicle to own their assets can be a very useful device as part of their planning in putting their affairs in order. The use of Trusts in this way can be an extremely efficient method for some people when choosing how to own their property or how best to allocate their investments and other resources.

"The courtesy I received from both Tina Green and Helen Simpson was just perfect. I was most grateful to them for their sympathy for me at a very sad time. My grateful thanks to all. Excellent service."
Mrs M, a client of Private Client Services

Using Trusts can be enormously valuable for many families please click this link as a reminder of some of the benefits and circumstances where Trusts can be a very good idea [See ‘The Shacklocks Family Trust'].

When setting up a Trust many people will themselves be the trustees of that Trust and will therefore continue to have control over the asset even though they do not own it. This can be a strange concept to understand and to appreciate and part of our advice to our clients establishing Trusts is always to talk about issues relating to control and ownership.

Put simply for many people the change from owning an asset to having it owned by a Trust will have no day to day impact on their lives but can provide valuable benefits in other ways. Separating the concepts of ownership and control is therefore an important ingredient in the mix when considering the use of Trusts and one that we will be delighted to explain to you when you give us a call.