Trusts can provide you with peace of mind if you want to manage the amount of tax you pay, particularly inheritance tax, or you need to protect your assets. They can be beneficial in many different circumstances.
If you have grandchildren, you may wish to set aside money for their education through a trust arrangement for when they get older. You can use a trust to protect your share of ownership in a property and they can also be used to ensure your children inherit your estate. Trusts can be created during your lifetime for your own benefit or after you die, through your will, to help loved ones or friends.
Trusts can also be established if you need trustees to manage your assets due to illness or disability. Trustees are required by law to act in the best interests of the beneficiary. If you have received personal injury compensation, a personal injury trust can ring-fence your compensation so you continue to qualify for means-tested benefits.
Our team has considerable expertise of setting-up trusts in all of these circumstances and many more. They can simplify what may seem a complex and daunting process.
Whatever your needs, we will take the time to understand your requirements, and advise on the most suitable and cost-effective solution.
The use of trusts involves detailed consideration of the effect of various taxes both on you and also for the trust itself and therefore requires careful planning to avoid any pitfalls or unnecessary or expensive tax bills. Our team has the expertise to provide that advice.