Trust Law Consultancy
We regularly advise individuals and other professionals on the various tax and legal implications of various types of trust structures.
Trusts are a common type of legal structure in Ireland. There are many reasons for setting up trusts, such as:
- Tax considerations. Trusts can provide effective vehicles for capital tax-efficient estate planning.
- Asset protection reasons. While trusts cannot be used to harbour assets from existing or likely creditors, they can be used in certain circumstances to protect assets against potential future claims. For example, someone setting up a risky business venture might put existing assets into a trust for the benefit of their family so that those assets are not lost if the venture fails.
- Vulnerable individuals. A family member may be vulnerable, due to age, illness or mental incapacity. A trust can provide a structure tailored to their needs.
- Confidentiality. A company might wish to make an investment without letting the market know and so might set up a trust arrangement whereby the asset is held on its behalf by a trustee.
These are just some of the examples where our team of solicitors, tax and trust practitioners can advise on and structure appropriate trust arrangements.