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Bare
Under a bare trust, one or more trustees hold the trust fund for the benefit of someone else (the beneficiary). If the beneficiary (or beneficial owner) is an adult and of sound mind they can make the trustees transfer all of the trust assets to them at any time. This means that the trustees are in effect no more than nominees for the beneficiary.
An example of a bare trust might be a parent who buys premium bonds in their own name as trustee for their infant child.
It is important to consider all of the legal, practical and tax implications before creating a trust. At Hart Brown we will guide you through the implications and help you set up a trust that best suits your objectives. We can also act as trustees of the trust.
To speak to someone who can advise on a bare trust or any other type of trust call, email or request a call back from one of our specialist lawyers.
Who to contact
Paul Tobias
Senior Partner, Head of Trusts & Investments
01483 887760
Email
Request a callback