TRUST TERMINATION SOLICITOR – MINEHEAD, SOMERSET
Closing a trust after a death.
Specialist advice for trustees and executors dealing with life interest trusts, discretionary trusts, Nil-Rate Band (NRB) trusts, disabled beneficiary trusts and asset protection trusts.
If someone has died and you have discovered a trust, you may be unsure what the trust wording means, who is responsible, whether the trust can be closed, and what tax or paperwork is needed before assets are distributed.
Rebecca Padgett TEP, is a specialist STEP-qualified trust solicitor. She helps trustees, executors and families understand the trust, make decisions, and bring the trust to a proper conclusion
Solicitor Rebecca Padgett is a full member of the Society of Trust and Estate Practitioners (TEP).
Specialist STEP-qualified advice
Practical guidance for trustees and executors
Clear, fixed-fees
Speak to specialist Trust solicitor Rebecca Padgett
Find out if our trust service is right for you. Arrange a free 15 minute initial phone consultation to help you understand your options and decide how you would like to proceed.
Common trust closure situations
Every trust is reviewed carefully before any decision is made. We explain your options clearly — including the legal and tax implications. Common situations include:
Life interest trust after death – When the person with the right to use or benefit from the trust assets has died.
Disabled beneficiary trust – When the beneficiary the trust was created for has died and trustees need to decide how the trust fund should be distributed.
Nil rate band discretionary trust – Often found in older mirror Wills, especially where the trust may no longer be needed because of the transferable nil rate band.
Investment policies written in trust – Where a parent or relative set up investment bonds or policies in trust for inheritance tax planning, and the trustees now need to decide whether to encash, continue or distribute.
Asset protection / property protection trust -Where a lifetime trust needs reviewing or closing, often after the settlor has died or where the trust company is no longer involved.
TRUST REVIEW AND CLOSURE SERVICES AND PRICES
How much does it cost to close a trust?
Trust closure work is usually carried out on a fixed-fee basis. The cost depends on the type of trust, the documents required, the assets involved, and whether you need advice only or a complete trust closure service.
Trust review and advice, from: £600 + £120 VAT Rebecca reviews the trust and explains the trustees’ duties, tax considerations, and available options — including what the trustees may be able to do themselves. | £720 |
Deed of Appointment / trust closure document, from: £595 + £119 VAT Where the trust can be brought to an end, Rebecca prepares the formal document needed to appoint assets out of the trust or record the trustees’ decision. | £714 |
Complete trust closure service, from: £1,500 + £300 VAT For trustees who want Rebecca to guide the process, deal with paperwork, liaise with HMRC or accountants where needed, and help bring the trust to a proper conclusion. | £1,800 |
Identification, per person: £30 + £6 VAT We are required to confirm identity of trustees and other relevant parties before work begins. | £36 |
Some complex matters, including property or dealing with HMRC may require additional fees. We will provide a written service proposal and quote so you know all the likely costs before we begin work. In many cases fees are paid from the trust fund.
Find out if our service is right for you. Arrange a free 15 minute initial phone consultation to help you understand your options and decide how you would like to proceed.
For more details on costs and timescales, see Winding up a Trust Price and Services Information ›
GET HELP WITH YOUR TRUST
Trust Review and Termination Services
All trust reviews and terminations are handled personally by Rebecca Padgett TEP. Every trust is reviewed carefully before any decision is made. We explain your options clearly — including the legal and tax implications — so you can decide whether to continue, restructure, or bring the trust to an end.
Closing Trusts after someone has died ›
Life interest trusts, disabled beneficiary trusts, investment policies written in trust, and trusts discovered during estate administration. Learn more ›
Nil Rate Band Discretionary Trusts ›
Older mirror Wills, NRB trusts, discretionary trusts and decisions about whether to continue, appoint assets or close the trust.
Learn more ›
Asset Protection and Property Protection Trusts ›
Reviewing or ending lifetime trusts that no longer work as intended, including where the settlor has died. Learn more ›
Closing Trusts after someone has died
A trust often needs to be reviewed or brought to an end after someone has died. This may happen where a life tenant, disabled beneficiary, settlor, investor or other key person has passed away.
The first step is to understand what the trust document says. Trustees may need to value the trust assets, consider tax, identify the correct beneficiaries, document their decisions, and make sure assets are distributed properly.
We can help you understand what needs to happen next and whether the trust should continue, be changed, or be brought to a proper conclusion.
Situations we can help with
- life interest trusts after the life tenant has died
disabled beneficiary trusts
investment policies or bonds written in trust
trusts discovered during probate or estate administration
lifetime trusts that need dealing with after death
Unsure what to do about a trust after someone has died?
Arrange a free 15 minute initial phone consultation
Nil Rate Band Discretionary Trust Reviews and Terminations
Nil Rate Band (NRB) and discretionary trusts are often found in older Wills, especially mirror Wills made by spouses or civil partners. In some cases, the trust may have been created for inheritance tax planning but may no longer be needed in the same way.
Trustees usually need advice before deciding what to do. The trust may need to continue, the trustees may need to make a formal appointment of assets, or the trust may be capable of being closed.
We can review the Will or trust document, explain the options clearly, and prepare the necessary trust documents where the trustees decide to bring the trust to an end. We can also advise about ongoing trust administration.
Situations we can help with
- older mirror Wills containing Nil Rate Band discretionary trusts
- trusts that were not dealt with on the first death
- uncertainty about whether the trust is still needed
- deciding who should receive trust assets
- preparing a Deed of Appointment
- property transfers or restriction issues
Need help with a discretionary trust or Nil Rate Band trust?
Arrange a free 15 minute initial phone consultation
Asset Protection and Property Protection Trusts
Some people set up lifetime asset protection or property protection trusts to protect the family home or other assets. These trusts can become difficult, expensive or inconvenient. Issues may arise if you want to sell the home in the trust, the settlor has died, or where a trust company has closed.
Before anything is changed, the trust needs to be reviewed carefully. Trustees must understand their powers, obligations to beneficiaries, and any tax or practical effects of closing or changing the trust.
We can advise on whether the trust should continue, be restructured, or be brought to an end.
Situations we can help with
the settlor has died and the trust now needs dealing with
the trust no longer works as intended
trustees are unsure what powers they have
a trust company is charging ongoing fees or is no longer involved
family members want a simpler arrangement
there are concerns about whether the trust was suitable or properly explained
Need help with an asset protection trust?
Arrange a free 15 minute initial phone consultation
Bringing a trust to an end can feel complex, but we will guide you through each stage in plain English. Our aim is to make the process clear, organised and as simple as possible for you and the beneficiaries.
Talk to us about your trust – get in touch with our friendly team:
01643 802 263 · enquiries@rjpadgett.co.uk
Speak to our friendly team:
01643 802 263
enquiries@rjpadgett.co.uk
Rebecca Padgett is a full member of the Society of Trust and Estate Practitioners (TEP).
About Rebecca Padgett
Rebecca Padgett is a solicitor, Chartered Legal Executive and full STEP member with over 18 years’ experience in trust work. She regularly advises on “Trust Busting” — helping people unwind troublesome or unsuitable trusts.
What is STEP?
STEP, the Society of Trust and Estate Practitioners, is a global professional body for specialists in trusts, estates, and inheritance planning. Full STEP members (TEPs) are recognised as experts with proven qualifications and experience.
TEPs help families plan and protect their assets across generations. They draft wills and trusts, administer estates, act as trustees, and advise on issues such as caring for vulnerable relatives. They are specialists, ensuring financial arrangements are tax compliant and legally sound.
Read more on the STEP website ›
Professional help with your trust.
Get in touch and we’ll help you understand your options clearly.
01643 802 263 · enquiries@rjpadgett.co.uk
Speak to our friendly team:
01643 802 263
enquiries@rjpadgett.co.uk
TRUST TERMINATION FAQs
Closing a Trust - Frequently Asked Questions
- How long does it take to wind up a trust?
- What are the tax implications of winding up a discretionary trust?
- How much does it cost to close a trust?
- Can I get out of a trust deed?
- How do trustees close a discretionary trust?
- Do I need a solicitor to wind up a trust?
- What documents do I need before speaking to you about a trust?
- What happens to a trust when someone dies?
- Can trust closure fees be paid from the trust fund?
- What is a Deed of Appointment?
- Can a Nil Rate Band trust be closed?
How long does it take to wind up a trust?
The time needed to wind up a trust depends on the type of trust, the assets involved, and whether HMRC reporting is required. Another factor is whether all trustees and beneficiaries can be identified and contacted.
A simple trust review or Deed of Appointment can be completed relatively quickly, while a full trust closure involving property, investments, tax reporting or multiple beneficiaries can take longer.
We will give you an estimate of the likely timescale once we have reviewed the trust documents.
What are the tax implications of winding up a discretionary trust?
Winding up a discretionary trust can have inheritance tax, capital gains tax and income tax implications. These depend on the trust, its assets and how long it has existed.
Trustees should get advice before distributing assets or encashing investments. The tax position may determine the best way to bring the trust to an end.
How much does it cost to close a trust?
To review a trust and advise on trustees’ options costs from £540 including VAT. A Deed of Appointment costs from £714 including VAT. A complete trust closure service, with detailed advice and taking care of everything from start to finish, costs from £1,800 including VAT.
The cost of closing a trust depends on the type of trust, the assets involved, the number of trustees and beneficiaries, and whether tax or property work is required.
There may be other additional costs and disbursements. For example, we are required to identify trustees and beneficiaries at £36 including VAT per person.
We will provide a detailed written service proposal and quote so you know what it will cost before you decide to go ahead.
In most circumstances, fees can be paid from the trust fund.
Can I get out of a trust deed?
Yes, there is usually a way to deal with a trust deed, but the right approach depends on the wording of the trust deed, who created it, who the trustees and beneficiaries are, and what powers the trustees have.
Trustees should be aware that transferring assets out of a trust can trigger a tax liability. This is a key consideration when planning a trust closure.
Some trusts can be brought to an end by trustee decision and formal documentation. Others may need to continue, be varied, or be dealt with in a different way. The starting point is always to review the trust deed carefully.
How do trustees close a discretionary trust?
To close a discretionary trust, trustees typically need to:
- review the trust deed;
- identify the beneficiaries;
- consider tax and reporting requirements;
- make a documented trustee decision; and
- prepare any necessary legal documents, such as a Deed of Appointment.
Trustees should not simply distribute the assets without checking the trust wording and their duties.
Do I need a solicitor to wind up a trust?
No, not every trust requires a solicitor to be involved from start to finish. Some trustees only need a review of the trust and advice on their options.
Where there are tax issues, property, investments, multiple beneficiaries, a discretionary trust, or unclear trust wording, it is wise for trustees to seek specialist advice. This can help them avoid mistakes and document their decisions correctly.
Trusts can be complex — even by solicitors’ standards — so when you choose a solicitor, make sure they are suitably experienced. Membership of STEP is a useful indication of specialist private client expertise.
What documents do I need before speaking to you about a trust?
We need to see a copy of the trust deed to advise you. You can email the trust deed to us. It may be easiest to photograph each page with your phone and attach the images to an email.
Where applicable, please also send the Will, any Deeds of Appointment or retirement, details of the trustees and beneficiaries, and information about the trust assets.
If the trust has arisen after a death, the death certificate, Grant of Probate if available, and estate papers may also be useful. However, the trust deed is the crucial document.
Just telephone or email to get started, or if you need any help.
What happens to a trust when someone dies?
It depends on the trust. In some cases, the death of a life tenant, disabled beneficiary, settlor or investor may trigger a review or closure of the trust. In other cases, the trust may continue.
Trustees need to check the trust document before deciding what happens next. We can provide a full review and explain your options in plain English.
Can trust closure fees be paid from the trust fund?
In many cases, professional fees for dealing with the trust can be paid from the trust fund, provided the work is properly connected with the administration or closure of the trust. We can explain this once we have reviewed the trust documents.
We will provide a detailed written service proposal and quote, and make it clear if the fee can be paid from the trust. You will know exactly where you stand.
What is a Deed of Appointment?
A Deed of Appointment is a formal trust document used by trustees to appoint trust assets to one or more beneficiaries.
It is often needed when trustees end a discretionary trust or Nil Rate Band trust, or when they need to document their decision correctly.
Can a Nil Rate Band trust be closed?
In some cases, yes. Nil Rate Band discretionary trusts are often found in older Wills. They may still be useful, but in some situations the trustees may decide that the trust is no longer needed or that assets should be appointed out.
The trust wording and tax position should be reviewed before any decision is made.
Unsure what to do next?
If you are dealing with a trust we can help you understand what the trust says, what your duties are, and what should happen next.
For clear advice from Rebecca Padgett TEP:
Call 01643 802 263 Email enquiries@rjpadgett.co.uk
Regulation
R J Padgett Limited is authorised by CILEx Regulation for Probate.
Authorisation number 3002949.
Information Hub
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• CILEx Regulation Authorisation & the CILEx Regulation Compensation Fund • Professional Indemnity Insurance • Price and services information • Complaints Procedure • Terms of Business • Privacy Notice • Interest Policy
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