Trusts for tax planning

We don't often see clients who say "we want a Trust". It's much more likely that a set of circumstances means that a Trust can help to save tax.

Sue Hunter

Partner

Sue is a Partner and head of our Private Client Sector. She is also the head of our Wealth Manager team.

0131 516 2928

Contact me

sue.hunter@morton-fraser.com

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.

Clear advice

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.

What our clients and peers say:

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.

- Legal 500

"Both my wife & I were very impressed and satisfied by the information, advice and direction offered by the straight talking, and comfortable approach of Sue Hunter. Very pleased indeed that we made the move to get in touch, and just a shame that we did not do so much sooner."

Private Client