How can I avoid Inheritance Tax through Trusts?
There are a number of ways to reduce inheritance tax through putting assets into trusts. Simply put, assets that are placed into trusts are given to the beneficiaries and are no longer part of the settlor's estate (the person who originally owned the assets). This therefore means that the assets will no longer be subject to inheritance tax when the person passes away.
Setting up trusts can have a number of benefits including establishing a way of providing for your loved ones as well as protecting your assets, ensuring they cannot be used to pay any outstanding debt or care fees to your local council.
Why not give us a call on 0800 028 5119 for free advice to see how we can help you with saving tax using Trusts?