What is a Trust?

Put simply, a trust is a legal agreement that describes how assets can be passed from your ownership (gifted) to be held for the benefit of another person (beneficiary). Therefore a trust can effectively allow you give away your assets to whomever you choose whilst allowing you to stipulate how or when they will benefit.


Why Use Trusts in estate Planning?

The many types of available trust can help you:

  • Reduce your inheritance tax liability

  • Preserve assets for children from a previous marriage.

  • Protect a spouse's financial future by providing lifetime income

  • Pass assets to grandchildren where your children are already wealthy in their own right.

  • Prevent children from inheriting assets before reaching adult age, such as 18 or 21.

  • Make gifts to charities.

Trust planning is a specialised area of financial planning and it is important to get advice from experienced and qualified advisers. Contact us to see how trust planning might benefit your estate planning requirements.

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Later Life Choices is a trading name of Prism EBC Ltd   which is authorised & regulated

by the Financial Conduct Authority.

Registered in England and Wales No. 9171884.

Regent House, Mitre Way, Battle, East Sussex TN33 0BQ. 

Jeremy Over is an accredited Later Life Adviser and member of SOLLA.