There can be many reasons why it’s not possible or practical to simply give your assets to the person you want to have them. The recipient may be young or unable to manage the responsibility. They may be receiving benefits. Or they may be experiencing marital problems, and you’d prefer your gift to not be included in the assets to be divided, and possibly end up in the hands of your ex son or daughter-in-law.

Whatever your reason, setting up a Trust can be an excellent way of simplifying and protecting both you and the recipient. For this reason, a Trust often forms part of a Will. Click here to find out more about Will Trusts.

We can advise you on whether a Trust is appropriate for your needs, the different types of Trust available, and the tax implications of setting up a Trust. We’ll put this in a language you’ll understand, and ensure

Inheritance Tax is the tax paid on assets, your savings, investments, property, vehicles etc. after Inheritance Tax Allowances have been deducted. While taxes may be inevitable, a little estate planning can help you make your affairs more tax efficient.   

It’s wise to seek specialist legal advice on how best to protect your estate sooner rather than later, so plans can be put in place and allowances utilised.

There are numerous considerations our inheritance tax solicitors can advise you on, including:

• Will Trusts
• Trusts
• Gifts
• Investments
• Deeds of Variation
• Succession Planning within your business

Our specialist inheritance planning lawyers can give you tailored tax advice, including allowances, structuring your Will and tax exemptions you can take advantage of during your lifetime, which will lawfully reduce the size of your estate and its liability for inheritance tax.

Trusts often involve advice from accountants and financial advisers, as well as solicitors, and we’re happy to connect you with other local experts who can talk you through your investment options.