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Trusts remain a powerful way to protect your assets, provide for loved ones, and plan for the future, but recent changes to trust law mean it’s more important than ever to understand your obligations.
The Trusts Act 2019, which came into effect on 30 January 2021, was the first major reform of trust law in over 70 years. It applies to all existing and new trusts, and places greater responsibilities on trustees, including keeping clear records and acting in accordance with a wider set of duties.
If you’re a trustee, a beneficiary, or thinking about setting up a trust, McVeagh Fleming can help you make confident, informed decisions. We work with individuals, families, and businesses to set up, manage, and administer a range of trusts, tailored to your goals.
Why set up a trust?
- Protect assets for your family’s long-term benefit
- Transfer wealth to the next generation
- Retain key assets (like a family business) if someone becomes ill or can’t work
- Protect against relationship property claims or estate challenges
- Manage assets for someone who can no longer do so themselves
- Help reduce tax liabilities
- Plan ahead through asset transfers before death
Our trust services include:
- Family trust formation and administration
- Business and commercial trusts
- Charitable and special purpose trusts
- Gifting programmes
- Asset and estate planning
- Trust reviews and compliance under the new Act
- Wills and retirement planning
If you're unsure whether your trust meets current legal requirements — or if a trust is right for your situation — talk to our team for straightforward advice and practical support.
