McClure Solicitors Family Protection Trusts – your questions answered

What is a Family Protection Trust (FPT)?

FPTs 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.

What issues are associated with McClure Solicitors FPTs?

FPTs 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 understand that many clients have not been advised properly about the purpose of the trust or the implications of administering one.

Should I keep or dissolve my FPT?

Seeking professional advice is essential to determine whether the trust still serves its intended purpose. Lawson West Solicitors offers a thorough review of your trust to guide you on the best course of action. If dissolution is necessary, it’s important to assess the tax implications before proceeding.

What if former McClure Solicitors’ directors are my Trustees?

If former directors of McClure Solicitors are appointed as trustees, selling assets can become difficult. It may be necessary to retire or remove these trustees via a Deed. Lawson West can draft this Deed and communicate with the former directors on your behalf. Replacement trustees can be appointed if required.

What if the former directors of McClure Solicitors are listed on my property’s Land Registry title?

Where the former directors are appointed as Trustees, they are often also registered on your title at the Land Registry. This means that their consent will be required for any sale or other disposal of your property. This can result in more paperwork and an added expense. We can handle any conveyancing work if your property is part of the trust and apply to the Land Registry for the former directors’ names to be removed.

How can Lawson West Solicitors help me?

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.

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