Legal Question in Wills and Trusts in Texas
trust for uk citizen
Hi I woudl like to arrange a trust fund for a uk citizen, how woudl i go about this. Would it be easier to have a uk bank as the trustee or can I do it? Also would it be an american lawyer or an English one that would write the trust document? thanks in advance
1 Answer from Attorneys
Re: trust for uk citizen
You can do it either here or there. It depends, in large part, on what you want the trust to do and where the UK citizen is located. Most institutional trustees, such as banks, require a very large trust before they'll handle it, and they are not inexpensive.
If you are the trustee, what happens if you aren't able to act on the part of the trust beneficiary?
If the trust will be set up in Great Britain, you'd be best off with an English solicitor. If here, use a local lawyer. Plus we don't have a Value Added Tax on legal services here.
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