Trusts

We can advise you on Trusts that can help minimise liability to inheritance tax, protect individuals and business from financial worries and to avoid impacts on benefits as well as other uses.

They can be set up either within a Will or during your lifetime. Whether you are a Trustee, a potential beneficiary of a Trust or you simply want to consider all your options for estate planning we have a specialist team of advisers to help you.

Trusts are more than a means of preserving family assets for future generations: a trust is also a highly efficient tax planning mechanism which can be used to mitigate or defer inheritance, capital gains and income taxes.

They can be settled either during lifetime or take effect, by will, on death. Their use ensures that your choice of trustees is implemented, that any restrictions on the application of income or capital are clearly expressed and that assets devolve in accordance with your wishes.

They can also be created to hold assets on behalf of those who are unable to do so themselves, as a result of age or incapacity, or to hold or retain control over significant stakes in companies. We specialise in tailoring each trust to a client’s specific needs.

Types of trust can include:

• Related Property (formerly Discretionary) Trusts
• Interest in Possession (Life Interest) Trusts
• Trusts for the Disabled
• Protective Trusts
• Fixed Interest Trusts

For initial advice, assistance or for a general chat about planning, whether for you or someone you know, contact Ian Flack on 01403 738777.