How to Set Up a Trust Fund if You're Not Rich. And as you probably know, people often set up trusts for children. How to set up a trust. The legal wording of a trust needs to be precise, so you should ask a solicitor to set it up. Find a solicitor to draw up a trust.
Feb 26, · Consider working with a well-respected legal professional when even considering setting up a trust. Trusts are not only for the wealthy. In fact, they have benefits for all classes of wealth. How to set up a trust fund As the trust needs to be legally-binding, precise and clearly laid-out, you should ask a solicitor to set it up. It can cost around £1, to set up a trust. A solicitor will make sure .
A trust does not qualify for special Income Tax treatment if the person setting it up can benefit from the trust income. However, from to it would qualify for special Capital Gains Tax.