Trusts and Estate Planning
Trusts are commonly used in estate planning to:
- Protect family wealth
- Control how and when assets are passed on
- Reduce Inheritance Tax where appropriate
- Provide for young, disabled, or vulnerable beneficiaries
- Ring fence property from care fees or the risks of remarriage
Types of Trusts
There are several types of Trusts available, each designed to meet different needs. Discretionary Trusts offer flexibility, allowing trustees to decide how and when assets are distributed. Interest in Possession Trusts provide income or use of assets to one person for life, with the remainder going to others. Property Protection Trusts help safeguard your share of the family home while allowing a partner to remain living there.
More Types of Trusts
Vulnerable Person’s Trusts support disabled or mentally incapacitated beneficiaries without affecting their benefits. Bare Trusts are simple arrangements that pass assets directly to a beneficiary at a set age. Flexible Life Interest Trusts combine long-term support for one person with flexibility for future changes. Each Trust serves a unique purpose, and the right one can help you protect your loved ones and your assets effectively.