Types of Trust
What are the different types of trusts?
Here at Hart Brown, we know that the realm of trusts can be overwhelming and determining the right type of trust for your needs can be daunting. Our expert team of solicitors provide comprehensive advice on the various types of trusts, helping you set up a trust for children, grandchildren or other beneficiaries. We will discuss your objectives and recommend the most suitable trust for your circumstances.
Below is an overview of some common types of trusts:
Bare Trusts – Trustees hold the trust fund for the benefit of a beneficiary. Adult beneficiaries of sound mind can request transfer of the trust assets at any time.
Charitable Trusts – Set up to benefit the public rather than an individual. It can be established during your lifetime or through a will.
Discretionary Trusts – Trustees decide which beneficiaries receive what and when. Beneficiaries are not automatically entitled to any assets without trustee approval. Professional trustees can help ensure objectives are met without family conflict.
Immediate Post-Death Interest Trusts – Created by a will to provide a lifetime interest to one beneficiary, such as a spouse, with remaining assets passing to other beneficiaries afterwards.
Life Interest Trusts – Entitle a beneficiary to the income of the trust for a period or for life, with the trust fund passing to other named beneficiaries when the interest ends.
Offshore Trusts – Established under foreign jurisdictions for tax planning or asset protection, often beneficial for non-UK domiciled individuals.
Personal Injury Trusts – Hold damages from a personal injury claim, ensuring the funds do not affect means-tested benefits.
Pilot Trusts – Often used for tax mitigation, allowing assets to be received in the future to reduce inheritance tax liability.
Family Living Trusts – A revocable type of trust fund where assets are transferred to family members, allowing gradual distribution over time in line with the grantor’s wishes.
It is essential to consider all legal, practical and tax implications when creating a trust. Our experienced team will guide you through the process and help establish a trust that meets your needs. We can also act as trustees to ensure your wishes are implemented correctly.
Looking to find out more about the different types of legal trusts available? Call our dedicated team on 01483 887766, email info@hartbrown.co.uk, or start a live chat. We will be more than happy to explain your options to you.



