Trusts
Trusts are a flexible and effective way of holding family wealth and have traditionally been used to preserve assets for future generations and to protect them from tax.
If you are domiciled outside the UK for tax purposes, a trust is a particularly good way of protecting your overseas assets from UK Inheritance Tax. Using a trust will also avoid having to obtain probate when you die - a very complex exercise if you have assets in multiple jurisdictions.
Because trust assets are held in the name of a trustee, trusts are a good way to preserve confidentiality.
We can advise you on the most appropriate form of trust and what protections can be put in place to ensure that you can continue to be involved in the management of the trust assets. For a large trust, this could involve setting up a Private Trust Company; alternatively, you may make certain powers subject to your consent, or the consent of a Protector.
We can also help you administer the trust and provide ongoing tax advice.
We also advise on a wide range of charities that are established as trusts.
Key contact: Jamie Atwell