Trusts as part of your estate planning
Your legacy is our priority.
Introduction
A trust ensures that the correct amount of money reaches the intended parties exactly when it’s needed. Trusts offer a level of flexibility, innovation, and control that may not be possible through a Will alone.
While it’s common to associate estate planning primarily with the distribution of assets after death, it encompasses more. It’s also about effectively managing your wealth today to enhance its value for the benefit of your family or to reduce tax liabilities.
Need a bespoke financial plan crafted specifically for your unique requirements?
Book a DemoReasons for using a trust
- Ensuring financial provision for future generations and allocating funds for designated family members
- Protecting wealth from potential dilution caused by a beneficiary’s divorce or bankruptcy
- Managing liability for Income Tax, Capital Gains Tax (CGT), or Inheritance Tax (IHT)
- Avoiding delays in receiving a Grant of Probate
For instance, if you intend to gift assets to someone you deem not yet responsible enough, you might want to maintain some level of control over those assets. This could be until the recipient reaches a specific age or until you judge them to be adequately mature. A properly structured trust can facilitate this arrangement. A trust can also be used where you wish to put funds aside for a minor until they are legally able to take control of those assets.
The levels and bases of taxation and reliefs from taxation can change at any time. Tax relief is dependent on individual circumstances.
Trusts are not regulated by the Financial Conduct Authority.
