Trusts
Why use a Trust?
Trusts have an important role in financial and tax planning. You can use a trust to:
- make gifts to individuals (both adults and minors). By gifting into a trust, control of these assets rests with the trustees, ensuring that they are not misused or wasted by your beneficiaries
- make certain that a gift reaches the person(s) you want to benefit at a time selected by you, e.g. to be gifted on your death or to assist with funding your grandchildren's education in the future
- help minimise your liability to inheritance tax
- speed up the administration of your estate and to avoid the need for probate on your death
