An introduction to trusts

A trust, to put it simply, is a legal arrangement where you gift assets such as; property/properties, investments or cash, for the benefit of another person, and you can decide on someone you trust to manage these.

Setting up a trust is one option you may be considering to keep control of asset protection, and our trusted team are trust experts (see what we did there) and can advise and navigate you through the complexity of tax planning, to ensure your wealth is passed onto the next generation smoothly and efficiently.

Trusts explained

When you put assets into a trust, and if specific conditions are met, they no longer belong to you. This means that when you pass away, the value of the assets in the trust won’t be included when your inheritance tax bill is calculated.

Some trusts may have higher rates to pay for income and capital gains tax, so it’s important to know what type of trust you have, as the kind of trust you choose depends on what you want it to do.

Setting up a trust

Our process

We will take the time to talk you through everything you need to know about setting up a trust and guide you through the process so that you can have confidence your wishes are fulfilled when you are no longer here.

There are different types of trusts that can be set up, and they may have a minimum set-up fee, so it’s important to choose the right one for you.

Discussing Trusts at DJH Mitten Clarke

Our services

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Family Investment Companies

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Inheritance Tax

Inheritance tax

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Personal Tax

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