In terms of protecting your assets and for saving tax, properly set-up Trusts are invaluable. They can ensure your assets are secured for your beneficiaries and save significant amounts of money in relation to Inheritance Tax and Capital Gains Tax. For a Trust to work efficiently, you need excellent legal, tax and investment advice, as well as good administration, all of which our team can provide.
- You might want to pass assets to a beneficiary who can't look after them. This might be because they are too young, but equally they might be a vulnerable person who can't look after the money themselves.
- You might be about to receive a sum of money following a personal injury. This money can be protected for you, and can help you to retain access to state benefits.
- You might know that you want to pass assets on, but are not yet clear as to who the beneficiaries will be.
- You might want to pass assets to a person, but want to protect the asset in case they divorce.
- You might have children from a previous relationship, and need to balance the needs of your children with your current spouse.
This list is not exhaustive, but are all examples of situations where a Trust can help you make sure the Trust beneficiaries really benefit from your assets.