Advice on setting up a trust fund

5erge

I'm looking at setting up a trust fund for my kids and placing shares and cash into the fund.


I what to stipulate that any dividends are automatically reinvested and that the cash in the fund is also used to purchase more shares in specific stock.


If I get my solicitor to setup the trust do they also arrange of transfer of shares and I then submit a HS295 form for tax purposes?


A few questions in here but I'm going round in circles at the moment.


Thanks


5erge

jimjames

I'd suggest speaking to the solicitor that you're using to do this. They will be best placed to give advice on your circumstances

xylophone

Take advice from a solicitor expert in Trusts.

https://www.step.org/member-directory

https://www.step.org/sites/default/files/Policy/STEP-presentation-website-10-Oct-2014.pdf

https://www.gov.uk/trusts-taxes/types-of-trust

Reaper

I have no idea of your circumstances, aims, or the sums of money you are thinking about, but before launching into an expensive discretionary trust set up by a solicitor just check the simpler & cheaper route of Bare Trust and/or JISA don't fulfil your needs.