Trusts are often misunderstood creatures. They are versatile and incredibly useful for protecting wealth and planning around tax matters, yet most people avoid them because of the arcane terminology with which they are surrounded.
We work to simplify trusts to help you understand them and appreciate how they can help you to protect your wealth. We advise you on the most useful form of trust for your circumstance and family – to allow you to control your wealth for the future as far as you wish to do so.
Trusts can reduce an Inheritance Tax bill giving you control over how your assets are used by future generations. Assets settled in trusts can:
- Keep a lump sum outside of your survivor’s estate to ensure it is not subject to IHT
- Protect your children/grandchildren’s legacy if your surviving spouse remarries
- Protect your children/grandchildren’s legacy from their own marital disputes
- Avoid giving children/grandchildren a sum of money that they may not spend as wisely or squander unnecessarily.
We can also help you with all compliance matters surrounding the legal requirement to register certain types of trust with HMRC and concerning the taxation of trusts.