What is a trust and how does trust planning work?

Trusts present a way of looking after assets (money, investments or property) for people who may not be ready or able to manage them themselves. They help to ensure that your assets are passed on in the way that you wish, both during your lifetime, and/or after you die.

Trusts are also a legal way to help protect your friends and relatives against inheritance tax. Assets left to an individual through a trust are treated as part of their personal estate, meaning that they won’t be taxed upon receiving them. Furthermore, this guarantees that your money will stay with the person you want it to, should they face future divorce settlements or unforeseen relationship breakdowns.

  • Trusts enable you to remain in control of your assets, even after your death
  • Trusts ensure that the people you want to benefit from your finances will do so
  • Trusts put you in control of specifying who you want to receive money, and in what proportion

How does putting your assets into a trust help your beneficiaries?

  • Trusts can be used to reduce, or even eliminate, the impact of inheritance tax
  • Should you wish to leave your assets to a child under the age of 18, holding them in a trust will keep them secure until the child is legally old enough to manage them
  • Your spouse can be provided for until such time that your estate is to be passed to your children
  • Should you require long-term care, a trust can prevent the enforced sale of your family property to fund it

There are many different types of trusts available. Global Financial Ltd will help you to understand the options available to you so that together, we can decide which is the most appropriate for your circumstances.

Are you ready to discuss trust planning, or would you like to arrange a no-obligation meeting?