Trusts are complex arrangements that allow you to give away assets, such as cash, property and shares, in a way you specify for the benefit of the recipient.
When you put assets into a trust, providing certain condition are met, they no longer belong to you. This can reduce your Inheritance Tax bill when used right, among other benefits.
Examples of when you might want to use a trust:
- To save on estate taxes, known as Inheritance Tax (IHT)
- When you want to give money to someone, but not until they reach a certain age
- When you want to support a vulnerable or disabled person
- When you want to support someone over a long period of time
TBL helps clients open trusts during their lifetime, or write them into their Will. We can also act as executors of your Will, so we can deal with the administration of the estate quickly and professionally. Where appropriate, we work closely with specialist solicitors to create trusts.
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