Trust Planning & Solutions
Lifetime transfers of wealth can be made in trust as a form of asset protection and to ensure monies reach the intended beneficiaries. Contact our trust financial advisers for professional trust planning advice.
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Depending on the type of trust used, assets gifted during your lifetime will usually fall outside of your estate for Inheritance Tax purposes 7 years after transfer to the trust.
Trusts are also necessary where assets are left to children, whether gifted during your lifetime or on death through your Will.
The Trustee Act 2000 places a number of obligations on trustees, including the need to obtain investment advice where appropriate and to regularly review investments. We are experienced in advising on the most appropriate form of trust to use, often working in conjunction with solicitors, the role of trustees and in devising, implementing and reviewing a suitable investment strategy.
Further information about IHT & Estate Planning:
With over £5 billion being paid to HMRC...
With over £5 billion being paid to HMRC annually in Inheritance Tax (IHT), it is clear, individuals can improve their tax efficiency in later life through...
A lifetime’s accumulated wealth will include...
A lifetime’s accumulated wealth will include assets such as a private property, savings, investments and perhaps also shares. Where assets are liquid, a...
Where wealth consists mainly of illiquid...
Where wealth consists mainly of illiquid assets, such as property, an appropriate life policy in trust can provide the means to settle the Inheritance Tax...
You will be aware of the need to have a valid...
You will be aware of the need to have a valid Will, however this is often overlooked as is the need to regularly update the Will to ensure it continues to...
Bereavement can be very stressful for all...
Bereavement can be very stressful for all concerned without the added burden of dealing with a loved one’s estate. Obtaining the grant of probate, which...
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TrustsNews & Case Studies
Inheritance Tax Rules You Should Know
Posted in Financial Planning, Financial Advice (+6 more), on 26.04.24 Read Inheritance tax (IHT) in the UK is a 40% tax on the value of the estate exceeding £325,000 when passed on after...Do you need a Trust to protect your wealth?
Posted in Financial Planning, Bare Trusts (+7 more), on 22.03.23 Read Determining whether you need a trust requires careful consideration of your personal and financial circumstances. In this...Personal Protection – what is it and is it worth it?
Posted in Financial Planning, Inheritance Tax (+2 more), on 18.11.21 Read Personal protections or life insurance policies are something most will put off until they really feel they should take it...Banks or Piggy banks? How to save for children.
Posted in Financial Planning, Financial Advice (+6 more), on 16.03.20 Read During volatile financial times, future proofing against economic turmoil by investing for our loved ones can seem more...Wealth Navigator
Posted in Inheritance Tax, Discounted Gifts (+3 more), on 19.12.18 Read Planning the BEST route for the next generationInheritance Tax- The Residence Nil Rate Band (RNRB)
Susie Laws, Director & Chartered Financial Planner
Posted in Inheritance Tax, Residential Nil Rate Band (+2 more), on 26.10.17
Read
The 2015 Summer budget announced the introduction of the residence nil rate band for inheritance tax. This measure...
Trust Planning
John Millican, Chairman
Posted in Financial Advice, Trusts on 20.07.10
Read
Some good news for trust planning The Perpetuities and Accumulation Act came into effect on 6 April and introduced two...
Read more about Trust Planning
Trusts protect assets from Inheritance Tax (IHT) liabilities by allowing you to transfer wealth to loved ones during your lifetime.
Depending on the type used, assets gifted during your lifetime will usually fall outside of your estate for IHT purposes seven years after transfer to the trust.
Our specialist team of financial advisors are here to help you understand the different trusts available, the benefits they offer to your estate and the legal process involved in drawing up the required documentation. We regularly work in conjunction with solicitors to provide clients with a comprehensive trust management service.
We are experienced in advising on the most appropriate form of trust to use, the role of trustees and in devising, implementing and reviewing a suitable investment strategy.
Avoiding probate
As well as helping to reduce IHT liabilities on your estate, setting up trusts is also recommended for avoiding probate in the event of your death.
Even if you have a will setting out how you wish your estate to be disposed of, certain assets, such as property, must be handled by a probate court. The principle behind probate is to ensure that the deceased’s wishes are adhered to, and to resolve any potential conflicts between claimants to the estate.
The probate process carries costs with it. Just as they can be used to avoid unnecessary IHT payments, trusts provide a means to dispose of assets outside the remit of the probate court, saving your beneficiaries the associated time and costs.
The role of trustees
When setting up a trust, you must appoint one or more trustees who will be responsible for ensuring that your wishes are followed upon your death.
The Trustee Act 2000 places a number of obligations on trustees, including the need to obtain investment advice where appropriate and to regularly review investments. As an award-winning team of investment specialists, Fiducia Wealth is ideally placed to help trustees fulfil this criteria and make decisions which best reflect the wishes of the grantor (the person setting up the trust).
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My main concern was to appoint someone who places my needs at the centre of their advice rather than their own financial gain. I am very comfortable that Susie and Fiducia do this