Declarations of Trust are appropriate in a number of common situations. They are often linked to the purchase of a property or considered after a property has been bought.
For example a Declaration of Trust can be used to protect someone's deposit where they have jointly purchased a property with one person putting more capital in than the other.
This may be particularly relevant for unmarried couples who are cohabiting, or providing protection where money has been gifted by the bank of mum and dad.
In some instances Declarations of Trust can be used to for tax planning purposes, for example where rental profits for jointly owned properties can be split unequally.
Wardrobes, Wills and Pad Thai
As we contemplate the easing of lockdown and start to edge back towards normality, there is still time to do the things that we have tended to put off when life was moving at full speed. .