Asset Protection Trusts (APTs) are often used to manage and safeguard your assets, but it’s important to understand that they come with various tax implications that need careful consideration. Understanding these tax implications ensures that your trust has been set up correctly and operates in compliance with the law.

Asset Protection Trusts (APTs) are used for managing and protecting assets, which means it’s critical that it has been properly registered. Many APTs are legally required to register with HMRC both for reporting for tax purposes, and being entered on HMRC’s trust registration service (‘TRS’). This is essential to avoiding both legal and financial complications.

You may have heard of Asset Protection Trusts (APTs), sometimes known as Family Protection Trusts, in the news, or perhaps you or a loved one has a trust in place you started some years ago.

The closure of McClure Solicitors has left many former clients facing uncertainty and concern regarding their legal and financial arrangements. If you are a previous client of McClure Solicitors, it is crucial to take proactive steps to address any issues and secure your interests.

The collapse of McClure Solicitors has left many clients in a state of uncertainty and concern, particularly for those who had set up Family Protection Trusts. Former clients have found themselves left in the dark regarding their trusts and are now seeking advice about the best options available to them.

McClure Solicitors went into administration in April 2021 and many ex-clients are now concerned about the legal documents they prepared previously through McClures. We have been actively helping a number of ex-clients of McClure Solicitors where, upon the advice of McClures, “Family Protection Trusts” were put in place and these types of legal documents in particular may not have been in the best interests of those clients