Trusts also allow you to protect your surviving spouse or other beneficiaries from the problems, pressures and unwanted attention often associated with inheritance. So, for example, if you feel that your children wouldn’t be ready to inherit at 18, but might be better waiting till 21 or 25, you can build this into the trust requirements.
If your estate is worth more than £325,000 (£650,000 for couples) then it makes sense to explore how you could benefit from using trusts.
We advise a broad range of clients on setting up different types of trusts, linking this in with wider tax and business succession planning if appropriate. Our team can take care of all trust administration matters and several of our partners and consultants are experienced trustees.
When someone does die, we can also deal with the estate, preparing the necessary accounts and tax calculations.