If you are concerned about your estate and how it will be managed after your death, then it might be wise to consider your will and include some form of inheritance tax planning. Even though there have been changes over the last few years there are still ways to reduce your estates liability to tax. The Budget changes in 2006 highlight the need to review existing trust arrangements.
If you are looking for an effective and flexible way to reduce your estate liability to tax then a trust might be the answer. Trusts give the trustees guidance in terms of how your estate is to be treated. This can provide effective tax planning.
Various planning issues can be addressed if the trust is set up within your will. If you have children or dependents that cannot manage their own affairs then a trust is vital to manage your assets upon your death.
Many people use various forms of trusts to help with tax planning, especially for inheritance tax. This has become more of an issue recently as the values of peoples estates have improved due to the recent recovery in stock markets.
Trusts allow the trustees to mange and distribute the settlors assets in the correct and appropriate way. If the trust has been set up in conjunction with a will this offers a substantial and flexible way to handle your estate.
There are several types of trust arrangements that can be put into place to ensure that your wishes are dealt with. In 2006 the government changes to law relating to trusts. They also introduced some temporary rules to help the transition to the new rules. We would recommend seeking legal advice from a professionally qualified individual.
If you are looking for an effective and flexible way to reduce your estate liability to tax then a trust might be the answer. Trusts give the trustees guidance in terms of how your estate is to be treated. This can provide effective tax planning.
Various planning issues can be addressed if the trust is set up within your will. If you have children or dependents that cannot manage their own affairs then a trust is vital to manage your assets upon your death.
Many people use various forms of trusts to help with tax planning, especially for inheritance tax. This has become more of an issue recently as the values of peoples estates have improved due to the recent recovery in stock markets.
Trusts allow the trustees to mange and distribute the settlors assets in the correct and appropriate way. If the trust has been set up in conjunction with a will this offers a substantial and flexible way to handle your estate.
There are several types of trust arrangements that can be put into place to ensure that your wishes are dealt with. In 2006 the government changes to law relating to trusts. They also introduced some temporary rules to help the transition to the new rules. We would recommend seeking legal advice from a professionally qualified individual.
About the Author:
If you need or feel you want to discuss IHT advice or trust arrangements, please look at the IHT section of our website. We are based in the south west of england and provide independent financial advice
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