Wills and Trusts

Money or property put into the right type of trust will be protected for generations.

A trust can hold assets for minors and for named beneficiaries to protect those assets from being diluted.

A trust can also effectively remove assets from your estate, so that they are not liable for inheritance tax.

The type of trust used will depend entirely on what you're trying to achieve and there is a whole suite of trusts available.

Discretionary trusts and nil rate band planning

The Will sets out an amount (or amounts) up to the value of the nil rate band to be placed into a discretionary trust on death.

The beneficiaries of the trust can then take lump sums or income at the trustees' discretion.

Probate trusts

Assets are placed into trust prior to death.

The settlor is a beneficiary of the trust and therefore has access to the assets during his or her lifetime.

The assets placed into trust do not form part of the estate and therefore probate is simpler and cheaper.

Family gift trust

A gift trust removes cash and assets from the estate as long as the giftor give up all benefit (capital and

income) and survives more than seven years from the date of the gift.

Setting up a trust costs around £250, but can save you inheritance tax of up to£120,000 and protect your family for generations to come.

Contact me for a free consultation