Why set up a trust?

There are lots of different reasons why you might want to put your money into trust. However, they all have one thing in common - they can save tax and benefit those you leave behind.

Trusts are useful for:

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Making arrangements for your family, and future additions, because you never know what's around the corner

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Helping with tax planning to reduce your liability, especially for Inheritance Tax (IHT)

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Making gifts - you can specify at what age and in what circumstances your intended beneficiaries can have them

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Protecting assets if you don't want the beneficiary to have full control of them

Don't let the taxman take it

One way to reduce your IHT bill is to give away assets while you're alive. This could be as an outright lifetime gift, but that's not always appropriate. Another way is to create a trust, so you can give assets away but retain flexibility over who will benefit from the assets and when.

WDJ Financial Planning can provide investment advice for new or existing trusts. Come and talk to us for full information.