Probate lawyers are urging the government to introduce reforms to make it easier for families to access the ‘digital assets’ of deceased relatives. A new report carried out by STEP – the professional body for inheritance planning advisers – highlights the extent of the distress caused by being cut off from digital assets when family members
Trusts can be created for a number of different reasons. They are commonly created in a Will and can also be created during a person’s lifetime. This may be for tax or other plnning purposes and we can advise on the options that are available to you in your circumstances.
Talk to one of our friendly and experienced team on 01582 514000
The rules can be complex and it is important to understand and seek advice as to the best type of Trust for you to establish.
We prepare the Trust documents and can assist with the ongoing administration of the Trust if required. We can also assist Trustees to ensure their role and duties are understood in the ongoing administration of a Trust.
Once established a Trust is under the control of Trustees who manage the Trust according to the Will or instructions when the Trust was established.
Common reasons for setting up a Trust will include:-
- Protecting against care fees in the future.
- Providing for children or partners from different relationships.
- As part of ongoing tax planning.
- Tax-efficient funding of private education for grandchildren.
Related Resources (View more resources)
Presentation slides from the webinar ‘Understanding inheritance and property – how to avoid disputes and claims’ which took place on Wednesday 7th July 2021.
Learn why you should write a will with Edward Gill and Radha Chauhan.
Presentation slides from the webinar ‘Wills and inheritance tax planning – putting the right protection in place’ which took place on Wednesday 2nd June 2021