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