A Trust (or a Settlement) is a structure which is most commonly set up by an individual in order to hold cash or assets for one or more beneficiaries. Trustees are appointed to administer the trust, invest and deal with the trust assets, and ensure that the beneficiaries receive all that they are entitled to, and in the case of discretionary trusts the trustees have the power to decide which of the beneficiaries receive income and capital from the trust during its duration.
Trusts can be a useful means to ensure that family members and other dependants or chosen beneficiaries are adequately provided for, and can also be used to mitigate tax and as such are often used as part of an individual’s tax planning strategy.
We can help you by discussing the various types of trusts that might be suitable for your requirements, and guide you through the tax implications of the options