Trusts

Trusts can be an effective wrapper to allow you to achieve important financial goals.

On the face of things a Trust may seem to be an old fashioned and arcane device. The reality is though, that even in this day and age, Trusts can be extremely useful vehicles for reducing tax liabilities and protecting family assets.

Trusts can be set up for many reasons. We often suggest that a trust is set up to manage concerns around the future use of an asset or to shelter an asset against tax. Have a look below to see other uses for a trust. You may be surprised!

A trust can help:

  • Control where your assets go
  • Restrict access to capital - useful for minors and second time marriages
  • Provide a degree of protection in the event of bankruptcy or relationship breakdown
  • Provide financial security for an elderly or infirm relative or others who are unable to manage their own financial affairs
  • Reduce exposure to inheritance tax and other taxes
  • Ensure that whilst a surviving spouse or civil partner can benefit from income, your capital remains protected for future generations
  • Provide protection of your assets should you suffer from incapacity
  • Create a lasting legacy by vesting an asset in a family charity or perhaps a foundation.

What we can do for you:

Once the Trust is established we will help you to run the trust advising on such things as distributions of trust monies or assets, investment management (in conjunction with Carpenter Box Wealth Management LLP, where appropriate).

We will prepare the necessary accounts, complete self-assessment and inheritance tax returns and offer advice on the tax implications as well as provide full administrative support to those running the trust (the Trustees).

We can also look after the beneficiaries and ensure that they pay the minimum amount of tax and where appropriate, receive good investment advice.

Registered to carry on audit work and regulated for a range of investment business activities by The Institute of Chartered Accountants in England & Wales