leave a trust

[denver]

My brother and I are both the trustees and beneficiaries of a trust set up by our mother who is now deceased. The assets are very modest, and as I am about to emigrate I would like to renounce both my trusteeship and cease to be a beneficiary. My brother would like the trust to continue (mainly for sentimental reasons).

He has no objections to me disengaging myself from the trust if this is permitted. As the trust's assets are of little value I am quite prepared to renounce them in favour of my brother.

Is such an objective feasible, and if so, is it a complex procedure. Is this a matter for a solicitor or an accountant

[Lee Young]

Definitely feasible, though the ease with which it can be done will depend on the terms of the trust arrnagements.

You need a solicitor who has trusts and tax knowldge and who is a member of he Society of Trust and Estate Practitioners.

Lee Young
lxy@m-b.co.uk
Solicitor, TEP and Chartered Tax Adviser
Moore & Blatch Solicitors

Direct dial: +44 (0) 1590 625840
Fax: +44 (0) 1590 671224

www.mooreandblatch.co.uk