A Bare Trust is the simplest form of trust.

This is where a beneficiary is entitled to the trust straight away, or they would be if they were 18 years old.

The trustee has no real duty to perform, other than investing the trust assets correctly, and the beneficiary can request that the trust assets are transferred over to them at any time.

When the beneficiary is under 18 the Trustee would usually look after the trust assets until the beneficiary's 18th birthday and then transfer the assets over to them.

The beneficiary is entitled to all of the capital and income and no-one else has any claim on the trust assets.

Trusts can be very complex documents but can also be essential in order to ensure that the best possible solution is offered to all your concerns. It is essential to take professional advice before entering into a trust as there can be tax implications of placing assets within trusts.

Our expert team, based in Doncaster and Sheffield, can assist you through this process.

For more information, why not click the links below or download one of our helpful guides. 

Alternatively, give us a call on 01302 341414 (Doncaster) and 0114 272 1884 (Sheffield) and our friendly team will be happy to have a chat with you.

What other types of trust are available?

There are numerous types of trust available, the most common types are: