Trusts in their different guises have one use to keep wealth in the hands of those you want. Among among other purposes, they can help reduce inheritance tax.Trusts can help ensure disabled beneficiaries are not cheated out of their inheritance by hangers on. Trusts can be used to ensure that your inheritance would stay in your family, and not be lost in divorce proceedings or to creditors. They are also useful for protecting your home from being sold to pay care home fees.
You state your objective, we, construct the trust most suited to this purpose.
A trust is a legal arrangement that allows you to give away assets such as cash, shares and other property in a tax efficient and controlled manner for the benefit of the people you choose. More importantly, you can legally prevent certain parties such as the tax man from getting at the assets. You can create a trust during your lifetime, or create a trust in a will that would come into effect on your death.
Trusts are a great way to protect your assets and ensure as much as possible of your wealth goes to the people you intend.
We advise on several trusts to suit several circumstances and purposes, including:
Disabled persons trusts –
designed to ensure that a disabled beneficiary of a will gets his or her normal share of the inheritance this short of arrangement has 2 particular benefits the beneficiary cannot be exploited by unscrupulous hangers on, and the beneficiary would still retain eligibility to social security and local authority benefits while enjoying the benefit of the inheritance.
these are flexible in that the trustees bound to act in accordance with your expressed wishes, have discretion over who benefits from the trust.
Young Persons Trusts
ideal for ensuring young people get their money in reasonable, manageable chunks.
Pilot Trust –
a type of trust used to ensure the wealth stays in the family, and the legacy is not lost to creditors or in divorce proceedings, the wealth can thus be kept in the family for several generations