McClure Solicitors Family Protection Trusts: ask for help

Even though McClure Solicitors ceased trading and were acquired by another firm 3 years ago in 2021, we understand that many people are still struggling with their Family Protection Trusts and are unsure of the necessary steps to manage them. At Lawson West Solicitors, we are here to help you navigate these challenges and have a lot of expertise and experience in this area.

What are Family Protection Trusts?

Family Protection Trusts are legal arrangements where assets, often the family home, are transferred into a trust to protect them from future risks and preserve them for future generations. They are often marketed as a way to avoid inheritance tax and long-term care costs.

However, these trusts may not always be suitable and might not work as intended. We find that many clients with these types of trust have not been advised properly about the purpose of the trust or the implications of administering one. At Lawson West Solicitors, we typically advise against these trusts except in very specific circumstances.

It is important, that professional advice is sought if you have a Family Protection Trust whether with McClure Solicitors or otherwise, to ensure that it meets it purpose.

Issues with McClure Trusts

We understand that many people are facing significant difficulties obtaining information about their trusts, especially where former directors of McClure Solicitors are appointed as trustees. Where a former director is a trustee, selling assets held in trust can be problematic. For properties, the former directors' names are often registered at the Land Registry, requiring their consent for any sale. This can result in more legal paperwork and an added expense.

Many of these trusts may have been unsuitable from the start
or have become ineffective due to changed circumstances

How Lawson West Solicitors Can Help You

At Lawson West, we have extensive experience dealing with trusts set-up by McClure Solicitors. If you, a family member, or a friend has a trust with McClure Solicitors, we can assist you.

• Initial Trust Review: We can offer an initial review to advise you of the best steps forward.

• Communication with Former Trustees: We can correspond with the former directors of McClure Solicitors on your behalf and change the trustees if necessary.

• Conveyancing Assistance: We can handle any conveyancing work if your property is part of the trust.

• Trust Termination: If the trust is no longer suitable or required, we can prepare legal documentation to terminate it.

Our team has over 80 years of experience combined and include two full members of the Society of Trust and Estate Practitioners (STEP). It means you are in safe hands when discussing your matter with us, whether trust-related or otherwise.

If you need assistance, please give our friendly team a call on 0116 212 1000 or 01858 445 480 or complete our Contact Us form.

Please also see our Article ‘McClure Family Protection Trusts’: Good or Bad? 

 

 

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