Trusts

A trust is a legal arrangement for managing assets on behalf of others. There are different types of trusts, each with its own tax implications.

If you want to ensure that your wealth passes to your children when they are mature enough to manage it or would like your assets to remain in trust indefinitely to provide your dependents with a place to live or an income, a trust could be the ideal solution.

Once your assets are placed in a trust, they are no longer considered part of your estate, meaning they are not subject to inheritance tax.

Trusts can be established for a variety of reasons, including:

• Minimising inheritance tax.

• Safeguarding control over assets.

• Protecting valuable assets.

• Will planning.

• Managing income tax.

• Covering care home costs.

While trusts can be complex, they are an effective way to ensure that the wealth you have built throughout your lifetime is passed on, protected, and used according to your wishes.