Zak Barnaville, Private Client Executive in the Wills, Trusts and Probate team at Franklins Solicitors explains what a Declaration of Trust is, why it's important and what the benefits are. 

He also warns what the consequences could be if you don't have one in place and how to include future changes in your financial circumstances in the document. 

There's also some good advice about the importance of having a will if you are a co-habiting couple with a Declaration of Trust.