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Trust Remains an Effective Method to Protect Wealth
Trust can be used in many different ways. For example, do you want your children/loved ones to manage and benefit from family wealth after your death? Trust can provide a suitable solution to avoid losing family’s wealth by paying inheritance tax.
Especially if money is given away to a minor or someone with mental health issues. A special type of Trust can be used to ensure that the money is not wasted by the beneficiaries. Trust can be used to protect wealth in circumstances such as divorce, death and business bankruptcy.
Sending kids toprivate school? Trust can also be used to save significant amount of money by using private school fee planning. Income generated within Trust is reported to HMRC and taxed, however we are able to arrange regular tax refunds from HMRC based on your circumstances. Setting up a trust can be expensive however, it can help you avoid costly mistakes further down the line. If income is distributed to minor beneficiaries, the use of a trust is likely to result in tax refund every year.
How much is it?
Please contact us for a free assessment as every case is different and it is not possible to quote a fixed price that applies to all cases. After the assessment, we will let you know of our thoughts and also offer you a fixed fee before any work is completed.