Trusts and Tax
Trusts are used to minimise the tax liability of a person’s estate and to preserve capital.
A trust is simply a legal arrangement under which ‘Trustees’ hold assets for the benefit of one or more ‘Beneficiaries’
There are a number of benefits of using trusts:
- To provide for your wife or husband after your death while protecting the interests of your children
- To use inheritance exemptions when you die
- To dispose of a business in a tax efficient way
- To protect the inheritance of young children
- To give away assets during your life but retaining control of them
- Income tax savings can be made
Very often the sooner a trust is set up and a gift made the greater the chance of securing the most favourable trust treatment.
We have a specialist department that deals with the creation and running of trusts.
To discuss your requirements please contact Peter Russell in our private client department on 0207 703 5034 or pjcr@meaby.co.uk.
