At Morton Fraser we have highlighted clarity as our guiding principle.
This directs the way we communicate, the way we advise, the way we conduct relationships with our clients and the way we are totally transparent and upfront about our charges. This applies to all our services from the straightforward to the more complex.
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.
The value of your estate might exceed the inheritance tax (IHT) threshold and you want to save IHT.
You might have assets which you want to pass onto family, but they have capital gains which would mean tax is due if you transfer them.
You might have a pension lump sum or death in service benefit due on your death.
You have an IHT liability and are putting in place life cover to meet this.
You are looking for ways to protect business assets for the next generations.
This list is not exhaustive, but are all examples of situations where a Trust might help save significant amounts of tax.
What is a Trust? We will tell you in language which is easy to understand and will ensure that things are kept as simple as possible. We don't believe in making things more complicated than they need to be, or tying assets up in an expensive arrangement which has no end date.
We only recommend using a Trust if it is going to provide a real benefit.
Benefits we bring
For a Trust to work properly, you need excellent legal advice, but you also need tax and investment advice, as well as good administration. Our team can do all of these things, so you don't need to look anywhere else.
Our approach to fees
There are different components involved in setting up and running a Trust. We aim to charge a fixed fee for the set up, and thereafter agree an annual charge for the ongoing work. That might depend on what is required from time to time, particularly in connection with the needs of the beneficiaries.
All work was dealt with in a very professional and timely manner. The benefit of having a wealth planning team was also an advantage.
- Chambers & Partners
Morton Fraser’s ‘professional and compassionate’ team is ‘a breath of fresh air’ and is well equipped to guide clients through a broad range of private client matters. The team advises boards of trustees and individuals on the administration of trusts, estate planning and tax matters, as well as the drafting of wills. The firm also handles general succession planning and contentious executry work.