Trusts
The right trust arrangement can protect your wealth for future
generations...
A trust is a legal arrangement that allows one group of people
(known as the trustees) to manage money or other assets for the
benefit of other people (known as the beneficiaries). Trusts help
to protect beneficiaries’ interests.
The most common reasons for creating a trust includes:
- Managing cash and assets for those beneficiaries who are too
young to manage their own affairs, or who lack financial
maturity
- Protecting assets from claims by former spouses or creditors of
the beneficiaries in the event of future divorce or financial
difficulties
- Allowing beneficiaries to make use of assets without their own
tax liability being exacerbated
Some trusts allow you to pass on the benefits of assets, whilst
retaining a measure of control over them. This is especially useful
for:
- Business owners who wish to benefit future generations while
continuing to manage their companies
- Those who have set aside cash or assets for identified
beneficiaries but wish to remain in control of how and when they
should benefit.
Furthermore, creating a trust can also help with tax planning, both for current and future
generations.
Whether you want to discuss the benefits of creating
a trust, open a new trust, keep a current trust running or
even close a trust, our dedicated and helpful trust team can
assist with ongoing administration ensuring all legal and tax rules
are followed.
Contact a member of our trust
team for further information.