Placing an asset into a Trust, rather than gifting your asset directly to your beneficiary, can also ensure that your asset is not simply squandered or used by your beneficiary in ways that you would not have approved of.
Trusts are one of the most valuable financial planning tools, but they are also one of the least-well understood. There are many different types of Trusts available, each with their own purposes and taxation implications.
As you’d expect, deciding on the right kind of trust for your particular situation and understanding the implications for all parties involved all makes for a detailed and demanding legal task. However. our experts here at Paul Robinson Solicitors are perfectly placed to provide the best possible advice and solution based on your ultimate goals.