April 2, 2020
Covid-19 and Commercial Leases
As the Covid-19 health emergency continues to escalate in Ireland, many areas of society are being impacted in a way much similar to that of the financial crisis. One area...
Setting Up Trusts and Incorporating Trusts into Wills
Lavelle Partners specialist Trusts solicitors can advise in relation to the setting up of Trusts and incorporating Trusts into a will. Our estate planning, Wills and probate department have been helping individuals and families across Ireland for over 30 years to ensure their financial affairs are managed in accordance with their wishes and their loved ones protected.
A trust is a legal arrangement whereby individuals (or a company), known as trustees, are responsible for assets and wealth designed to benefit others (beneficiaries). The person who sets up the trust is known as the settlor. Assets and capital held in the trust can be released at the desired time (such as the 21st birthday of the beneficiary) or used for a specific purpose (such as educating future generations). Trusts are an extremely useful mechanism for providing for children into the future and particularly where a child has special needs or a disability.
Our expert solicitors will ensure that in creating your Trust it meets all of the requirements for a valid trust by law.
Trusts are bespoke documents and are tailored to meet your particular circumstances. However, there are 3 main types of trust in Ireland.
When deciding which trust is appropriate for your needs, it is important to engage the services of a specialist trust fund solicitor who will listen to the details of your situation, family, and wishes, and advise you of your options accordingly.
As part of our trusts legal service offering, we can assist with ensuring your trust arrangements are correctly included within your Will, to reflect the estate planning arrangements agreed with your family and loved ones.
For further information regarding the setting up of trusts and incorporating trusts into Wills in Ireland, please contact Lavelle Partners in confidence on (01) 644 5800.
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