Using a discretionary trust set up for asset protection: for many people with a significant number of assets, a discretionary trust provides a suitable vehicle for protecting their wealth from the depredations of the taxman and other interested parties. Unlike many other trust models, a discretionary trust places considerable power in the hands of the trustees, potentially enabling them to vary the level of funds paid out to beneficiaries, or even decide that at the current time, beneficiaries should not be granted access to trust support.
If you feel that a discretionary trust may be the most appropriate financial structure for your wealth, Coddan Formations Agency can provide the expertise you need to draw up, formalise and administer a legal, correctly formulated discretionary trust.
Limit beneficiaries and distribution: the nature of a discretionary trust is such that the number of beneficiaries can be limited, and distribution of assets can be restricted, by trustees.
This can be helpful in preventing beneficiaries from squandering money inappropriately and can also be of value in bankruptcy cases - monies held in the trust cannot form part of a beneficiary's assets when they declare themselves bankrupt.
We can provide trustees and administrative details: if you are concerned about obtaining suitable people to act as trustees, Coddan Formations Agency can provide appropriate contact details for suitable individuals, without compromising your control of the trust. We can also draw up the necessary paperwork and submit it for ratification to verify that your discretionary trust is a valid legal entity.
UK discretionary trust post-formation documentation: once your trust is up and running, why not let Coddan undertake the necessary reporting work? Our in-house team has the expertise to compile annual reports, provide appropriate financial documentation and produce well-presented, professionally compiled summaries, constitutions and other useful paperwork.