Trusts and Estates
In helping you to plan for inheritance tax minimisation, it may be beneficial
to consider your estate and trusts.
Trusts enable assets to be given away while still retaining some control over
them. Income can be paid to different persons with the capital ultimately going
to other persons.
The main types of trusts which are used for tax planning purposes are the following:
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Interest in possession trust: this type is one in which one or more of the beneficiaries has a right to receive the trust income or has the use and enjoyment of the trust fund. |
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Discretionary trust: this type is one where the payment of any trust income is at the discretion of the trustees. |
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Accumulation and maintenance trust: this type is a suitable vehicle where the beneficiaries are under the age of 25. |
We can review your existing trusts with a view to ascertaining their current tax efficiency or review your circumstances and advise on the most efficient kind of trust to meet your requirements. We will also examine draft trust deeds to ensure that they achieve your needs and will result in the most beneficial tax advantages for you.
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To find out more about how Fawcetts can help, or to book your free, no-obligation consultation, call 01722 420920 or email support@fawcetts.co.uk
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