What are the benefits of setting up a Trust?
Trust funds, or deeds of trusts as they also known are a great way to help protect your loved ones, ensuring they can be provided for in the future. Trust funds can:
- Protect your assets - so they cannot be used to pay for care home fees
- Guarantee an income for your loved ones - providing financial stability for their future
- Help to avoid inheritance tax - ensuring your money, shares and property are passed on in the most tax efficient way.
Setting up trusts can be a complicated process, but can have great benefits for you and your family.
Why not contact Inheritance Solutions UK today and use our professional advisors who will be happy to talk you the options available to you and help you to decide on the best trusts to set up.
Trusts can help to avoid using the value of your home to pay for care home fees
Trusts can guarantee an income for your loved ones
As well as protecting your assets such as property, money and shares, Inheritance Solutions Uk can help to set up trusts to help provide for your family's future.
You might want to consider setting up a trust to save guard some money if the benefiacry is either:
- Too young to inherit - the beneficary cannot inherit until they reach the age of 18.
- Spendthrift - If they person is not great with looking after money, any gift can be put into a trust and they can receive a gradual income from it.
- Is infirm - local authorities in England can make people sell up their assets, such as their home to pay for care. Placing the assets a trust means that they are protected and cannot be seized by the local authorities ensuring your gift is passed on as you desire.
Trusts can help to avoid inheritance tax
Trust can help to to avoid paying inheritance tax ensuring that the your beneficiaries receive the full gift you wish to give to them. This is because assets placed in trusts are taken out of your estate and deposited somewhere else. This means that the chosen asset will no longer be in your estate and therefore no longer subject to inheritance tax when you die.